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Prospect News home > News index > List of issuers H > Headlines for Healthcare Realty Trust Inc. > News item |
Fitch cuts Healthcare Realty
Fitch Ratings said it downgraded Healthcare Realty Trust's issuer default rating to BBB- from BBB, unsecured revolving credit facility to BBB- from BBB and senior unsecured notes to BBB- from BBB.
Fitch also said it withdrew its BB+ indicative preferred stock rating as the company has no intentions of issuing preferred stock in the foreseeable future, Fitch said.
The outlook was revised to stable from negative.
The downgrades reflect expectations that leverage, fixed-charge coverage and unencumbered asset coverage of unsecured debt metrics will remain more consistent with the BBB- rating, the agency said.
Although the company publicly indicated a desire to significantly de-lever in 2011 through a large equity raise, this did not occur to the extent expected, Fitch said.
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