Moody's ups Aviv Healthcare

Moody's Investors Service said it upgraded senior unsecured rating of Aviv Healthcare Properties LP to Ba3 from B1 and affirmed its corporate family rating at Ba3.

The outlook is stable.

Moody's said the ratings reflect Aviv's sustained profitable growth in a weak economic environment and following significant cuts in Medicare reimbursement rates. The ratings also incorporate significant reduction in secured debt in Aviv's capital structure as a result of its IPO in March 2013 and related debt paydown.

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