S&P affirms Ventas

Standard & Poor's said it affirmed its BB corporate credit ratings on Ventas Inc., its operating partnership Ventas Realty LP and Ventas Capital Corp. following the announcement that Ventas will be acquiring Provident Senior Living Trust for $1.2 billion.

In addition, the rating assigned to the $491 million in senior unsecured debt issued by Ventas /Ventas Capital Corp. is affirmed. The outlook is stable.

S&P said the affirmations reflect that although this transaction appears fully priced, Ventas is acquiring a good quality portfolio that reduces its concentration with its largest tenant and improves its payor mix with the addition of these private pay facilities.

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