Fitch rates Healthcare Realty notes BBB+

Fitch Ratings said it assigned Healthcare Realty Trust’s proposed senior unsecured notes a BBB+ rating. The outlook is stable.

“The BBB+ rating and stable outlook reflect the issuer’s strong financial metrics and high-quality, geographically diversified and granular medical office building (MOB) portfolio, which provides durable operating cash flows. The company has lower exposure to implications from the coronavirus pandemic than other REITs, as MOBs have sufficiently high lease coverage levels to withstand lower patient volumes and elective procedures,” Fitch said in a press release.

Fitch expects the proceeds will be used to repay the senior unsecured notes due 2023 and for other general corporate purposes.

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