Health Care REIT, Inc. today announced that Standard & Poor's Ratings Services has raised the company's corporate credit rating to BBB from BBB- with a stable outlook. The report cites the company's diversified and quality portfolio, ability to generate steady cash flow growth and improving credit metrics for the upgrade.
S&P's upgrade validates our business model of building a diverse portfolio of high-quality assets with the best operators that will generate predictable, resilient returns, said George L. Chapman, Health Care REIT's Chairman and CEO.
About Health Care REIT, Inc.
Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo, Ohio, is a real estate investment trust that invests across the full spectrum of seniors housing and health care real estate. The company also provides an extensive array of property management and development services. As of December 31, 2012, the company's broadly diversified portfolio consisted of 1,025 properties in 46 states, the United Kingdom, and Canada.