|
|
 |
|
Viewing report
|
|
|
|
BioMed Realty Trust Inc. Jun 11
Standard & Poors, June 2011
Abstract
A generally healthy operating environment for BioMed's biotech and pharmaceutical tenants. Cash flow stability supported by mostly long-term, triple-net leases. Improved coverage measures due to lower leverage, accretive acquisitions, and robust internal growth. A narrow focus on serving the life science sector contributes to high geographic and tenant concentrations. Higher vacancies contribute to lower return measures relative to similarly rated peers. Our ratings on San Diego, Calif.-based BioMed Realty Trust Inc. reflect the company's satisfactory business risk profile as characterized by good internal cash flow growth prospects from a portfolio of office and laboratory properties serving the life science industry. Internal growth plus recent accretive acquisitions have bolstered coverage measures that now better support our intermediate financial risk assessment. BioMed...
Companies mentioned in this report are: BioMed Realty Trust Inc.,BioMed Realty L.P.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
|
|
|
|
