IRVINE, Calif., Oct. 1, 2019 /PRNewswire/ -- HCP, Inc.
(NYSE: HCP) today announced that Fitch Ratings ("Fitch") upgraded
HCP's corporate credit rating to BBB+ from BBB, with a stable
outlook.
Fitch noted the ratings upgrade reflects HCP's reduced leverage,
demonstrated access to capital, improved portfolio quality, and
management's strategic approach to investments.
"We are pleased with the upgrade from Fitch as it reflects our
continued efforts to strengthen our credit profile and balance
sheet," said Pete Scott, HCP's
Executive Vice President and Chief Financial Officer. "Our strategy
in the three private-pay healthcare segments of life science,
senior housing and medical office enables us to deliver reliable
and consistent financial results, while positioning us for
long-term growth."
About HCP
HCP, Inc. is a fully integrated real estate investment trust
(REIT) that invests in real estate serving the healthcare industry
in the United States. HCP
owns a large-scale portfolio primarily diversified across life
science, medical office and senior housing. Recognized as a
global leader in sustainability, HCP has been a publicly-traded
company since 1985 and was the first healthcare REIT selected to
the S&P 500 index. For more information regarding HCP,
visit www.hcpi.com.
Contact
Andrew Johns
Vice President – Finance and Investor Relations
(949) 407-0400
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SOURCE HCP, Inc.