ORLANDO, Fla., Jan. 21, 2015 /PRNewswire/ -- Parkway Properties, Inc. (NYSE: PKY) announced today that it was assigned investment grade credit ratings by two of the major U.S. credit rating agencies. The Company received a Baa3 rating from Moody's Investors Service and a BBB- rating from Standard and Poor's Ratings Services. Both credit ratings have a stable outlook.

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"Three years ago, when this management team announced the new strategic plan for Parkway, one of the key components of that plan was to maintain a conservative and flexible balance sheet," stated David R. O'Reilly, Parkway's Executive Vice President and Chief Financial Officer. "The receipt of investment grade credit ratings is a significant achievement and a testament to the tremendous strides we have made in transforming the credit profile of the Company while materially strengthening the balance sheet and further increasing our financial flexibility."

More information regarding the Company's credit rating assignments can be found on the agencies' respective websites at www.moodys.com and www.standardandpoors.com.

About Parkway Properties

Parkway Properties, Inc. is a fully integrated, self-administered and self-managed real estate investment trust specializing in the acquisition, ownership, development and management of quality office properties in higher growth submarkets in the Sunbelt region of the United States. Parkway owns or has an interest in 51 office properties located in eight states with an aggregate of approximately 17.2 million square feet of leasable space at January 1, 2015. Fee-based real estate services are offered through wholly owned subsidiaries of the Company, which in total manage and/or lease approximately 6.0 million square feet for third-party owners at January 1, 2015.

Contact:
Ted McHugh
Director of Investor Relations
(407) 650-0593

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SOURCE Parkway Properties, Inc.