Moody's affirms Ventas

Moody's Investor's Service said it affirmed the ratings of Ventas Realty LP's senior debt and Ventas Inc.'s senior guaranteed debt at Baa3 following the REIT's announcement of its intention to purchase the real estate assets of Atria Senior Living for $3.1 billion.

The outlook is stable.

The Baa3 ratings reflect Ventas' expanding market position, strengthened operational capacity, improved asset quality and manageable debt maturity schedule, the agency said.

The stable outlook reflects Moody's expectation that Ventas will maintain adequate liquidity, reduced secured debt levels and endeavor to maintain its debt-to-EBITDA ratio below 5.0 times.

The debt-to-EBITDA ratio is expected to rise to 5.8 times post-closing from 4.1 times.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.