Fitch Ratings said Tuesday that it has affirmed HCP, Inc.'s (HCP) credit ratings, including its Issuer Default Rating at 'BBB+'.
The Rating Outlook is Stable.
Fitch said the ratings reflect HCP's credit strengths, namely steady and predictable cash flows from a large portfolio of high-quality properties across the healthcare real estate spectrum, maintenance of leverage and fixed-charge coverage metrics appropriate for the rating category, manageable lease expiration and debt maturity schedules, financial flexibility stemming from a large unencumbered pool to support unsecured borrowings, and a solid liquidity position.
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