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Fitch affirms Sabra Health Care REIT ratings

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Fitch affirms Sabra Health Care REIT ratings

Fitch Ratings affirmed Sabra Health Care REIT Inc.'s long-term issuer default rating at BB+ and cumulative redeemable preferred stock at BB-/RR6, with a stable outlook.

The rating agency also affirmed Sabra Health Care LP's BB+ long-term IDR and BB+/RR4 unsecured revolving credit facility, unsecured term loan and senior unsecured notes ratings. Sabra Canadian Holdings LLC's BB+/RR4 senior guaranteed term loan rating was also affirmed.

Fitch said that the affirmation is reflective of the company's "constructive efforts" to reduce the concentration of its assets and tenants, which addressed issues that could have resulted negatively.

The outlook is stable, as Fitch expects Sabra to have consistent leverage in the high 4x range and fixed-charge coverage in the low 3x range through the rating horizon.