S&P boosts Senior Housing

Standard & Poor's said it raised its credit rating on the senior unsecured notes issued by Senior Housing Properties Trust (BB+/stable) to BBB- from BB+.

Concurrently, the agency said it assigned a recovery rating of 2 to the notes, indicating that lenders can expect a substantial recovery in the event of a payment default.

At the same time, S&P said it affirmed its BB+ corporate credit rating on the company.

The outlook is stable.

According to the agency, the raised rating on Senior Housing's senior unsecured notes reflects the extension of our recovery rating-scale and issue-level rating framework to speculative-grade unsecured debt issuers.

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