S&P revises Medical Properties outlook

S&P said it revised the outlook for Medical Properties Trust Inc. and its operating partner MPT Operating Partnership LP to stable from negative. S&P also said it affirmed all of the ratings for the company and the partnership. The 2 recovery rating is unchanged for Medical Properties’ senior unsecured notes.

The stable outlook reflects the Medical Properties tenant concentration risk offset by relatively stable cash flows, the agency said. The company recently acquired 24 hospital facilities, cutting its top tenant’s concentration to 30.3% from 39.5% at the end of 2018.

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