S&P eyes Physicians Realty positively

S&P said it placed its ratings for Physicians Realty Trust, including the BBB issuer credit rating, on CreditWatch with positive implications.

Physicians Realty agreed to merge with Healthpeak Properties Inc.

“The CreditWatch positive placement reflects our view that Wisconsin-based Physicians Realty will benefit from increased scale following its merger with Healthpeak, which will provide it with enhanced cost and leasing efficiencies. We anticipate the all-stock transaction will close in the first quarter of 2024. Physicians Realty's shareholders will receive 0.674 shares of Healthpeak's common stock for each of the company's shares,” the agency said in a statement.

S&P said it aims to resolve the CreditWatch placement when Healthpeak and Physicians Realty close the merger in the first half of 2024. “It is likely we will discontinue our ratings on Physicians Realty at that time.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.