Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

WELLTOWER INC.

(WELL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Welltower : Moody's Investors Service Revises Welltower's Outlook to Stable and Affirms 'Baa1' Issuer Credit Rating

10/08/2021 | 08:01am EST

TOLEDO, Ohio, Oct. 8, 2021 /PRNewswire/ -- Welltower Inc. (NYSE: WELL) announced today that Moody's Investors Service ("Moody's") has revised its rating outlook for Welltower to Stable from Negative and affirmed Welltower's issuer credit rating as 'Baa1'. Moody's emphasized that the stable outlook reflects steady improvement in the seniors housing operating portfolio and a continued recovery in cash flows. Notably, the Company's seniors housing operating portfolio has already reported occupancy gains of 380 basis points (bps) since trough occupancy on March 12, 2021, led by the US and UK portfolios which have reported occupancy gains of 520 basis points and 440 basis points, respectively1. Moody's also noted that given the strong demographic trends driving demand and declining levels of new supply, the long-term fundamentals for the seniors housing business remain positive.

In addition to the continued recovery in the seniors housing operating business, Moody's highlighted the Company's excellent liquidity position and commitment to strong financial governance through the pandemic, including funding investment activity through asset sales and common equity issuances to manage leverage levels. The Company has continued to maintain a sound capital structure, ending 2Q21 with $4.8 billion of liquidity, including a $4.0 billion undrawn revolving credit facility. In its report, Moody's noted that the management team's commitment to its financial policies and the steady recovery in operating fundamentals will lead to continued improvement in leverage levels over the next year.

"We are pleased with Moody's upgrade of our rating outlook to stable," commented Tim McHugh, Welltower's Chief Financial Officer. "This outlook upgrade from a second rating agency validates the prudent measures Welltower has taken to maintain strong liquidity and balance sheet strength through the COVID-19 pandemic. The proven liquidity of our asset class along with our leading access to public and private capital allowed the Company to mitigate risk as uncertainty increased and move quickly to capture significant value as fundamentals have begun to improve." 

Moody's full report on Welltower can be found on Moody's website at www.moodys.com.

About Welltower

Welltower® Inc. (NYSE: WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate and infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. Welltower, a real estate investment trust ("REIT"), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties. More information is available at www.welltower.com

1 As of September 3, 2021

Cision
View original content to download multimedia:https://www.prnewswire.com/news-releases/moodys-investors-service-revises-welltowers-outlook-to-stable-and-affirms-baa1-issuer-credit-rating-301396087.html

SOURCE Welltower Inc.


ę PRNewswire 2021
All news about WELLTOWER INC.
11/19WELLTOWER INC. : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
11/19Welltower Inc. Issues $500,000,000 Aggregate Principal Amount of 2.750% Notes Due 2032
CI
11/17WALL STREET STOCK EXCHANGE : The return of inflation fears
11/17RBC Trims Price Target on Welltower to $93 From $95, Noting Higher Labor Costs, Seasona..
MT
11/17Barclays Reinstates Welltower at Overweight With $92 Price Target
MT
11/17ANALYST RECOMMENDATIONS : Diageo, Hyatt, Marks & Spencer, Sea Limited, Boeing, The Home De..
11/15WELLTOWER INC. : Ex-dividend day for
FA
11/05Financial Stocks Easing From Intraday Highs Late Friday
MT
11/05WELLTOWER INC. Management's Discussion and Analysis of Financial Condition and Results..
AQ
11/04Welltower Q3 Funds From Operations Down, Revenue Climbs; to Acquire 4 Senior Housing Po..
MT
More news
Analyst Recommendations on WELLTOWER INC.
More recommendations