Fitch rates Ventas notes BBB

Fitch Ratings said it assigned a credit rating of BBB to the $700 million of 4.75% senior notes due June 2021 issued by Ventas Realty, LP and Ventas Capital Corp., which are subsidiaries of Ventas, Inc.

Ventas expects to use the net proceeds from the offering to fund the cash portion of the purchase price and transaction costs in connection with its pending transaction with Atria Senior Living Group, Inc. and/or for general corporate purposes, which may include a senior unsecured term loan to Nationwide Health Properties, Inc.

On March 2, Fitch placed the ratings of Ventas and Nationwide Health Properties, Inc. on Rating Watch Positive following the announcement that the boards of directors of both companies unanimously approved a definitive agreement under which Ventas will acquire Nationwide Health in an all-stock transaction, the agency said.

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