S&P gives Omega notes BB+

Standard & Poor's said it assigned its BB+ rating to Omega Healthcare Investors Inc.'s proposed $225 million of 6.75% senior unsecured notes due 2022.

At the same time, the agency said it assigned its 2 recovery rating to the notes.

The note offering does not affect its BB corporate credit rating and positive outlook on Omega, S&P added, stating that Omega intends to use the proceeds from the offering to repay borrowings under its secured credit facility.

S&P noted that it expects debt to EBITDA to be closer to 4.5x by year-end.

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