Moody's views Medical Properties stably

Moody's Investors Service said it changed the outlook for Medical Properties Trust Inc. and its main operating subsidiary MPT Operating Partnership LP to stable from positive and affirmed their Ba1 ratings. The speculative grade liquidity rating remains unchanged at SGL-2.

“The outlook was revised to stable from positive, reflecting Moody's expectation that it will be challenging for MPT to reduce its large tenant concentration with Steward Health Care (30% of 3Q22 revenues) as the capital markets climate has made execution of accretive acquisitions more challenging,” the agency said in a press release.

However, Moody’s said it expects MPT to deliver steady cash flows from its lease and mortgage investments with rent coverage slowly improving over time.

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