Fitch Gives Health Care REIT Inc’s $152MM Convertible Senior Notes ‘BBB’ Rating
- Jun 18, 2010
June 18, 2010
By Allison Landa, News Editor
Fitch Ratings said this week that it has assigned a ‘BBB’ rating to the newly issued $152 million, 3.0 percent convertible senior notes due in 2029 offered by Health Care REIT Inc. Fitch pegged the rating outlook as stable.
According to a statement by Fitch, Health Care REIT will use the proceeds to repurchase a portion of its 4.5 percent convertible senior notes due in 2026 and 2027.
As of the end of the first quarter 2010, Health Care REIT’s porfolio encompassed investments in 608 properties in 39 states. It invests across the spectrum of senior housing and health care real estate nad provides property management and development services.