Moody's ups Omega Healthcare debt

Moody's Investors Service said it upgraded the senior unsecured debt rating of Omega Healthcare Investors, Inc. to Ba1 from Ba2.

The outlook is stable.

Moody's said the upgrade reflects Omega's continued execution of profitable growth, while maintaining consistently strong credit metrics.

Moody's notes that Omega has increased its size, as measured by gross assets, to $3.6 billion as of the fourth quarter of 2012 up from $2.7 billion as of the fourth quarter of 2010.

The agency said it expects the healthcare REIT will continue its steady pace of growth in the upcoming years, using its access to attractively priced capital to take advantage of consolidation opportunities in the fragmented SNF sector.

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