Fitch gives A- to Assura, bonds

Fitch Ratings said it assigned Assura plc a long-term issuer default rating of A- with a stable outlook.

The agency also assigned an instrument rating of A- to the group's new senior unsecured bonds to be issued by subsidiary Assura Financing plc.

Fitch said the issuer default rating reflects Assura’s operational focus on the U.K. primary healthcare sector, delivering long-term contractual rent that benefits from strong sector dynamics and a supportive tenant base with quasi-governmental links and revenue.

The group benefits from low volatility, given limited asset concentration, good geographical diversification throughout the U.K., and occupancy levels of 98%, the agency explained.

Leverage metrics and financial flexibility support a strong investment-grade rating.

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