Moody's views Medical Properties negatively

Moody's Investors Service said it changed its outlook for Medical Properties Trust, Inc. (MPT) and its operating unit MPT Operating Partnership LP to negative from stable and affirmed its ratings, including MPT Operating Trust’s Ba1 senior unsecured rating.

“The outlook for the ratings was revised to negative from stable reflecting governance considerations including MPT's high financial leverage and challenges related to one of the REIT's large tenant exposures. The negative outlook also reflects MPT's weakened access to the public capital markets as the REIT has seen a steep rise in its capital costs that is hindering the REIT's ability to execute on its strategy of financing hospital real estate investments. Liquidity is adequate through 2024, but its cost of refinancing large amounts of debt coming due in 2025 is another consideration,” Moody’s said in a press release.

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