Fitch affirms Welltower

Fitch Ratings said it affirmed the ratings of Welltower Inc., including the issuer default rating, at BBB+.

Fitch also assigned an F2 short-term issuer default rating.

The outlook remains stable.

“The BBB+ ratings and stable outlook reflect the issuer's diversified health care real estate portfolio, its strong credit metrics and above-average access to capital in the REIT sector,” the agency said in a news release.

“Partially offsetting these strengths are improving but still notable tenant and skilled nursing concentration and the issuer's above-average ownership of senior housing properties where it is exposed to the operating cash flows rather than triple-net leased properties.”

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