Fitch rates Ventas notes BBB+

Fitch Ratings said it assigned a BBB+ rating to the $600 million aggregate principal amount 4.25% coupon senior unsecured notes due 2022 issued by the operating partnership of Ventas, Inc., Ventas Realty, LP and Ventas Capital Corp., a wholly owned subsidiary of Ventas Realty.

The notes are guaranteed by Ventas, Inc. on a senior unsecured basis and were priced at 99.214% of par to yield 4.347% to maturity, or 250 basis points, over the benchmark treasury rate, Fitch said.

The proceeds are expected to be used to repay indebtedness outstanding under Ventas' unsecured revolving credit facility and for working capital and other general corporate purposes, the agency said.

Ventas has an issuer default rating of BBB+, BBB+ rating on its $2 billion unsecured revolving credit facility, BBB+ rating on its $2.2 billion senior unsecured notes and BBB+ on its $950 million senior unsecured term loans.

The agency also said Nationwide Health Properties, LLC has an issuer default rating of BBB+ and BBB+ rating on its $652.6 million senior unsecured notes.

The outlook is stable.

The new issue will improve Ventas' near-term liquidity profile, Fitch said.

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