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NEW YORK--([ BUSINESS WIRE ])--Fitch Ratings has assigned a 'BBB-' rating to the $200 million five-year and $225 million seven-year unsecured term loan facilities entered into by Highwoods Properties, Inc.'s operating partnership Highwoods Realty Limited Partnership (NYSE: HIW) in February 2011 and January 2012, respectively. Net proceeds from the term loans were primarily utilized to reduce the outstanding balance of the company's revolving credit facility.

Fitch currently rates the company as follows:

Highwoods Properties, Inc.

--Issuer Default Rating (IDR) 'BBB-';

--Preferred Stock 'BB'.

Highwoods Realty Limited Partnership

--IDR 'BBB-';

--Unsecured revolving line of credit 'BBB-';

--Senior unsecured notes 'BBB-'.

The Rating Outlook is Stable.

For additional information, please refer to the Dec. 15, 2011 full rating report 'Highwoods Properties, Inc. (Highwoods Realty Limited Partnership),' which is available at '[ www.fitchratings.com ]'.

Additional information is available at '[ www.fitchratings.com ]'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Treatment and Notching of Hybrids in Nonfinancial Corporate and REIT Credit Analysis', Dec. 15, 2011;

--'Corporate Rating Methodology', Aug. 12, 2011;

--'Parent and Subsidiary Rating Linkage', Aug. 12, 2011;

--'Recovery Rating and Notching Criteria for Equity REITs', May 12, 2011;

--'Criteria for Rating U.S. Equity REITs and REOCs', March 15, 2011;

--'Highwoods Properties, Inc. (Highwoods Realty Limited Partnership, Dec. 15, 2011.

Applicable Criteria and Related Research:

Recovery Rating and Notching Criteria for Equity REITs

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=628490 ]

Highwoods Properties, Inc. (Highwoods Realty Limited Partnership)

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=656502 ]

Criteria for Rating U.S. Equity REITs and REOCs

[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=610687 ]

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