Fitch Affirms Ventas, Inc.'s IDR at 'BBB+' on SNF Spin-off and Ardent Announcements; Outlook Stable

April 6, 2015 1:13 PM

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(The following statement was released by the rating agency) NEW YORK, April 06 (Fitch) Fitch Ratings has affirmed its ratings on Ventas, Inc. (NYSE: VTR) and certain rated subsidiaries (collectively, Ventas) following the company's announcements that it intends to spin-off 355 primarily post-acute skilled nursing facility (SNF) properties operated by regional and local care providers (spin-off) and also acquire the real estate of Ardent Health Services for a net value of approximately $1.4 billion (Ardent transaction).

Fitch currently rates Ventas' long-term Issuer Default Rating (IDR) 'BBB+'. A full list of ratings is shown at the bottom of this release. KEY RATING DRIVERS The spin-off and Ardent transactions will enable the company to focus primarily on seniors housing and medical office buildings, and to a less...

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