S&P rates HCP notes BBB

Standard & Poor's said it assigned HCP Inc. (BBB/stable) a BBB rating to its $600 million 6 7/10% senior unsecured notes due 2018.

The issuer also has a BBB senior unsecured rating and BBB- preferred stock rating.

Proceeds will be used to reduce borrowing on its $2.75 billion bridge facility, which was used to acquire Slough Estates USA Inc. in August.

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