Fitch rates Health notes BBB

Fitch Ratings said it assigned a BBB rating to the $450 million principal amount of 4.95% senior notes due 2021 issued by Health Care REIT, Inc. The company has an issuer default rating of BBB.

The outlook is stable.

The notes were priced at 99.349% of par to yield 5.031% to maturity, or 238 basis points over the benchmark Treasury rate. The proceeds are expected to be used to invest in health-care and senior housing properties, Fitch said, and other general corporate purposes.

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