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Fitch lifts Healthcare Realty
Fitch Ratings said it upgraded Healthcare Realty Trust’s issuer default rating to BBB from BBB-, unsecured line of credit to BBB from BBB-, senior unsecured term loan to BBB from BBB- and senior unsecured notes to BBB from BBB-.
The outlook is stable.
The upgrades reflect the material improvement in leverage and fixed-charge coverage and a view of the durability of the operating cash flows for medical office buildings, Fitch said.
The ratings are tempered by weak contingent liquidity and a persistently high dividend payout ratio, which impedes cash retention, the agency said.
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