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Article: Fitch Assigns Positive Outlook to HCP; Affirms IDR at 'BBB'.
- Article from:
- Business Wire
- Article date:
- January 22, 2009
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NEW YORK -- Fitch Ratings has affirmed the ratings for HCP, Inc. (HCP) as follows:
-- Issuer Default Rating (IDR) at 'BBB';
-- Unsecured bank credit facilities at 'BBB';
-- Senior unsecured notes at 'BBB';
-- Preferred stock at 'BBB-'.
The Rating Outlook has been revised to Positive from Stable.
The rating affirmation is supported by a large, well-diversified portfolio of investments with strong property level cash flows, a strong liquidity position, a large pool of unencumbered assets, solid debt service coverage ratios, reasonable leverage, modest investment expiration schedule, and demonstrated access to a wide ...