Fitch applies BBB- to Care Capital

Fitch Ratings said it assigned BBB- issuer default ratings to Care Capital Properties, Inc. and its operating partnership, Care Capital Properties, LP.

The agency also assigned BBB- ratings to the partnership’s senior unsecured revolving credit facility and senior unsecured term loans and expects to assign a BBB- rating to its senior unsecured notes.

The outlook is stable.

Fitch said the ratings reflect the strength of Care Capital's headline metrics and industry-tenured management team offset by the focus on skilled nursing and post-acute facilities and as of yet, immature capitalization and unproven access to non-bank debt and equity capital markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.