Fitch outlook negative on Healthcare Realty Trust (AP)
Thu, 11 Jun 2009 19:13:29 Etc/GM
The move would decrease the company's unencumbered asset pool, Fitch said. The company focuses on health care related properties, including outpatient facilities, assisted living centers, and nursing homes.
Meanwhile, Fitch also expects the company's unsecured credit to be renewed, but at a higher interest rate.
The ratings agency did reaffirm a range of "BBB," or lower medium grade, ratings for the company's credit facilities and default potential, citing the geographic diversity of properties. The portfolio includes 204 properties and investments in 28 states, with a concentration of medical offices and physicians clinics.
"These facilities typically have greater tenant diversity and higher tenant retention than other asset classes," Fitch said, in a statement.
The ratings are also based on the company's management team, Fitch added.
Shares of Nashville, Tenn.-based Healthcare Reality Trust fell 12 cents to $16.88 in afternoon trading. The stock has traded between $12.06 and $32 over the past 52 weeks.
source: http://biz.yahoo.com/ap/090611/us_healthcare_realty_trust_rating.html?.v=1