Fitch Revises Sabra’s Outlook to Stable; Fitch and S&P Affirm Sabra’s Credit Ratings
Sabra Health Care REIT (Nasdaq: SBRA) has received a positive outlook revision from Fitch Ratings, changing from Negative to Stable. Both Fitch and S&P Global Ratings affirmed Sabra's debt ratings at 'BBB-'. Fitch highlighted Sabra's robust financial policies during the pandemic, while S&P noted strong rent collections and minimal expected cash flow disruptions. CEO Rick Matros emphasized the company's commitment to maintaining a strong balance sheet amidst the pandemic's challenges.
- Fitch upgraded Sabra's rating outlook to Stable from Negative.
- Both Fitch and S&P affirmed debt ratings at 'BBB-'.
- Strong rent collections reported during the pandemic.
- None.
Sabra Health Care REIT, Inc. (Nasdaq: SBRA) announced today that Fitch Ratings (“Fitch”) has revised its rating outlook for Sabra to Stable from Negative and that both Fitch and S&P Global Ratings (“S&P”) affirmed the ratings for Sabra’s debt as 'BBB-'.
Fitch notes in its report that its affirmation of Sabra’s ratings and revision to Stable Rating Outlook reflect its view of Sabra’s demonstrated commitment to prioritizing its financial policies amidst the uncertainties of the coronavirus pandemic. Fitch also notes in its report its view that the long-term rental income risk profile generated from senior housing and skilled nursing facilities remains relatively unchanged. Fitch’s full report on Sabra can be found on Fitch’s website at www.fitchratings.com.
In affirming Sabra’s issuer and debt ratings, S&P noted in its report that Sabra has maintained strong rent collections throughout the pandemic and that S&P expects minimal cash flow disruption for Sabra despite COVID-19-related headwinds. S&P’s full report on Sabra can be found on S&P’s website at www.standardandpoors.com/ratingsdirect.
Commenting on the reports from Fitch and S&P, Rick Matros, CEO and Chairman, said, “Despite the challenges of the pandemic, we were able to demonstrate the commitment to a strong balance sheet. We appreciate the support and recognition we received from both Fitch and S&P.”
ABOUT SABRA
Sabra Health Care REIT, Inc. (Nasdaq: SBRA), a Maryland corporation, operates as a self-administered, self-managed real estate investment trust (a "REIT") that, through its subsidiaries, owns and invests in real estate serving the healthcare industry throughout the United States and Canada.
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