Fitch Ratings said it has assigned a 'BBB' rating to the $300 million 3.625% senior unsecured notes due August 2022 issued by Essex Portfolio L.P., the operating partnership of Essex Property Trust, Inc. (ESS).
The unsecured notes were issued at 98.99% of par to yield 3.747%. The company expects to use the proceeds to repay balances on its unsecured line of credit and for general corporate purposes.
Fitch currently rates Essex Property Trust, Inc's Issuer Default Rating or IDR at 'BBB' and Preferred stock 'BB+'.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.