Healthcare Realty Provides Update on New Credit Facility
NASHVILLE, Tenn., Oct. 20, 2011 /PRNewswire/ — Healthcare Realty Trust Incorporated (NYSE: HR) recently announced it has entered into a $700 million unsecured revolving credit facility, which replaces the previous $550 million facility. The new facility matures October 14, 2015 and may be extended for an additional year at the Company’s option. The facility is currently priced at 1.50% over LIBOR, with a 0.35% facility fee, and is subject to other terms and conditions customary for loans of this nature. The Company’s previous credit facility was priced at 2.80% over LIBOR with a 0.40% facility fee.
The Company expects Fitch Ratings to change its credit rating to BBB- with a stable outlook.
With this expected change, the Company's credit ratings would be: Moody's Baa3 Positive Outlook Standard & Poor's BBB- Stable Outlook Fitch Ratings BBB- Stable Outlook
The expected change in the Fitch rating would not affect the pricing of the new credit facility.
In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty Trust, including its Annual Report on Form 10-K for the year ended December 31, 2010 under the heading “Risk Factors,” and as may be updated in its Quarterly Reports on Form 10-Q filed thereafter. Forward-looking statements represent the Company’s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking material.
SOURCE Healthcare Realty Trust Incorporated