TOLEDO, Ohio--(BUSINESS WIRE)--Welltower Inc. (NYSE:HCN) today announced that Moody’s Investors Service has raised the company’s corporate credit rating to Baa1 with a stable outlook from Baa2 with a positive outlook. The report cites the company’s success in growing and enhancing the quality of its portfolio while also reducing leverage for the upgrade.
“The Moody’s upgrade acknowledges our efforts in strengthening the balance sheet, lowering leverage and improving credit metrics over the last year. In addition, this upgrade should create value for our shareholders by translating into a reduced cost of capital,” said Scott Estes, Welltower’s CFO.
Welltower Inc. (NYSE:HCN), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people’s wellness and overall health care experience. Welltower™, a real estate investment trust (REIT), owns more than 1,400 properties in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities and outpatient medical properties. More information is available at www.welltower.com.
This press release may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. When the company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the company’s actual results to differ materially from the company’s expectations discussed in the forward-looking statements. This may be a result of various factors, including, but not limited to: the status of the economy; the status of capital markets, including availability and cost of capital; changes in financing terms; competition within the health care and seniors housing industries; the movement of U.S. and foreign currency exchange rates; the company’s ability to maintain its qualification as a REIT; and other risks described in the company’s reports filed from time to time with the Securities and Exchange Commission. The company undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise, or to update the reasons why actual results could differ from those projected in any forward-looking statements.