S&P ups Ventas

Standard & Poor's said it raised its corporate credit ratings on Ventas Inc., its operating partnership, Ventas Realty LP, and Ventas Capital Corp. to BBB- from BB+.

In addition, the agency said it raised its ratings on the company's senior unsecured debt, which totals roughly $1.5 billion, to BBB- from BB+.

Concurrently, S&P said it revised its outlook on Ventas to stable from positive.

According to the agency, the upgrades reflect the company's demonstrated commitment to maintaining a moderate financial profile over the long run, its successful integration of the Sunrise portfolio, which it acquired in April 2007 and the recent disclosure that Sunrise senior Living Inc., Ventas' partner and property manager, expects to file its long-delayed financial statements with the SEC.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.