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Prospect News home > News index > List of issuers O > Headlines for Omega Healthcare Investors, Inc. > News item |
S&P rates Omega Healthcare notes BBB-
Standard & Poor’s said it assigned a BBB- rating to Omega Healthcare Investors Inc.’s $400 million senior unsecured notes due 2027.
The recovery rating on this debt is 2, indicating 70% to 90% expected default recovery.
The BB+ corporate credit rating and stable outlook are unchanged.
The proceeds will be used for general corporate purposes, which may include repayment of Aviv REIT Inc.’s debt in connection with a previously announced merger with Aviv, repayment of future maturities on Omega’s outstanding debt or future acquisitions, S&P said.
The ratings reflect the company’s fair business risk profile and intermediate financial risk profile, the agency said.
The stable outlook reflects an expectation that Omega will smoothly integrate the Aviv merger, S&P said, and that tenant-level rent coverage will be relatively flat over the next year.
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