- Language: English
- 96 Pages
- Published: March 2012
- Region: United Kingdom
Research Update: Medical Properties Trust Inc. 'BB' Corporate Credit Rating Affirmed; $200 Million Senior Notes Assigned 'BB' Rating Feb 12
- Published: February 2012
- Standard & Poors
Birmingham, Ala.-based Medical Properties Trust's concentrated portfolio of hospitals and other health-care properties provided very stable cash flows through the recent economic downturn. We affirmed our 'BB' corporate credit rating on Medical Properties Trust Inc. following the company's announcement of its proposed acquisition of 16 hospitals from Ernest Health Inc. We assigned a 'BB' issue rating and recovery rating of '3' to the MPT Operating Partnership, L.P. and MPT Finance Corp.'s proposed $200 million senior note issue due 2022. We affirmed the 'BB' issue level rating and revised the recovery rating to '3' from '4' on the existing unsecured debt. Our stable outlook reflects our expectation that strong rent coverage will continue to support core cash flow and stable coverage...
Companies mentioned in this report are: Medical Properties Trust Inc.,MPT Operating Partnership L.P.,MPT Finance Corp.
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Medical Properties Trust Inc.,MPT Operating Partnership L.P.,MPT Finance Corp.