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S&P rates Health notes BBB-
Standard & Poor's said it assigned a BBB- rating to the $450 million 4.95% senior notes due 2021 issued by Health Care REIT Inc.
The proceeds will be used to fund additional investments over the next few quarters, the agency said.
The company's investment appetite has been robust, with net investments totaling nearly $1.5 billion, including $1.3 billion for acquisitions, over the first three quarters of 2010, S&P said.
The rating reflects a moderate financial profile, currently adequate liquidity and stable health-care facility cash flows, S&P said.
The agency also factored in an expectation that the company will maintain moderate leverage and good debt protection measures.
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