IRVINE: Sabra Health Care REIT announced that Fitch Ratings has affirmed the ratings for Sabra and its subsidiaries at ‘BBB-‘; Fitch’s Rating Outlook of Negative also remains unchanged.
The report notes Sabra’s portfolio quality and diversification, strong liquidity and no near-term maturities as key drivers for its ratings decisions. Fitch also views Sabra’s recent decision to reduce its upcoming quarterly dividend expected to be declared in May 2020 to $0.30 from $0.45 positively because of the additional liquidity it will provide that is expected to be used to manage leverage and fund operations.
Commenting on the Fitch report, Rick Matros, CEO and Chairman, said, “We are pleased with the improvements we have made to our balance sheet over the last year and will continue to put a high priority on a healthy balance sheet and our ratings.”