TOLEDO, Ohio--(BUSINESS WIRE)--Health Care REIT, Inc. (NYSE:HCN) today announced that Fitch Ratings has raised the company’s corporate credit rating to BBB+ with a stable outlook from BBB with a stable outlook. The report cites the company’s private pay portfolio in strong demographic areas and relationship investing strategy, ability to generate steady cash flow growth and improving credit metrics for the upgrade.
“Fitch’s upgrade validates that we have built, and continue to build, a differentiated business supported by solid credit fundamentals, a premier-quality portfolio and a relationship network that cannot be replicated. This upgrade immediately creates value for our shareholders through its positive impact on the pricing of our credit facility,” said Tom DeRosa, HCN’s CEO.
About Health Care REIT, Inc.
HCN, an S&P 500 company with headquarters in Toledo, Ohio, is a real estate investment trust that invests across the full spectrum of seniors housing and health care real estate. The company also provides an extensive array of property management and development services. As of December 31, 2014, the company’s broadly diversified portfolio consisted of 1,328 properties in 46 states, the United Kingdom and Canada. More information is available on the company’s website at www.hcreit.com.