IRVINE: Sabra Health Care REIT Inc. (Nasdaq: SBRA) announced today that Fitch Ratings has revised its rating outlook for Sabra to Stable from Negative and that both Fitch and S&P Global Ratings affirmed the ratings for Sabra’s debt as ‘BBB-‘.
Fitch notes in its report that its affirmation of Sabra’s ratings and revision to Stable Rating Outlook reflect its view of Sabra’s demonstrated commitment to prioritizing its financial policies amidst the uncertainties of the coronavirus pandemic. Fitch also notes in its report its view that the long-term rental income risk profile generated from senior housing and skilled nursing facilities remains relatively unchanged.
In affirming Sabra’s issuer and debt ratings, S&P noted in its report that Sabra has maintained strong rent collections throughout the pandemic and that S&P expects minimal cash flow disruption for Sabra despite COVID-19-related headwinds.
Commenting on the reports from Fitch and S&P, Rick Matros, CEO and Chairman, said, “Despite the challenges of the pandemic, we were able to demonstrate the commitment to a strong balance sheet. We appreciate the support and recognition we received from both Fitch and S&P.”
Sabra Health Care REIT Inc., a Maryland corporation, operates as a self-administered, self-managed real estate investment trust (REIT) that, through its subsidiaries, owns and invests in real estate serving the healthcare industry throughout the United States and Canada.