CareTrust REIT Credit Ratings Upgraded by Moody’s

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
17
CareTrust REIT Credit Ratings Upgraded by Moody’s Investors Service

SAN CLEMENTE, Calif., Oct. 04, 2017 (GLOBE NEWSWIRE) -- CareTrust REIT, Inc. (NASDAQ: CTRE ) announced today that it received upgraded credit ratings from Moody’s Investors Services.

On October 2, 2017, Moody’s upgraded the corporate family credit rating of CareTrust to Ba3 from B1, with a continued positive outlook. At the same time, Moody’s also raised its senior unsecured rating of CareTrust REIT’s $300 million 5.25% senior unsecured notes to Ba3 from B1, likewise with a continued positive outlook. Among other contributing factors, Moody’s cited CareTrust REIT's improved credit and operating metrics, achieved through a combination of strategic investments and a debt refinancing executed earlier in the year.

"We appreciate the recognition of our growing balance sheet strength and continuing tenant diversification highlighted by this upgrade,” said Greg Stapley, CareTrust REIT's Chairman and Chief Executive Officer. He noted that the company's key credit metrics have steadily advanced, reaching and surpassing management's previously-stated target debt-to-EBITDA range of 4.0x to 5.0x well ahead of schedule. As of the June 30, 2017 that ratio stood at approximately 3.72x. “With that strength, our solid lending relationships and our current access to the debt and equity markets, we are very optimistic about our growth prospects for 2018,” he concluded. 

More information regarding CareTrust REIT’s upgraded credit ratings can be found in the Moody's Rating Action press release dated October 2, 2017 on its website at www.moodys.com .

About CareTrust REIT TM

CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 181 net-leased healthcare properties and three operated seniors housing properties in 23 states, CareTrust REIT is pursuing opportunities nationwide to acquire additional properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. More information about CareTrust REIT is available at www.caretrustreit.com .

Contact: CareTrust REIT, Inc. (949) 542-3130 ir@caretrustreit.com

Scroll down for more posts ▼

Top 10 Most Recent News Articles

GRAI's Innovative Play with Hangout FM in Streaming

Updated Category News Views 11

Reimagining Streaming: GRAI Buys Hangout FM The music streaming game has just been dealt a fresh hand. GRAI, an AI-driven music company, has snatched up Hangout FM, looking to ignite a social revolution in how we experience music. Sitting here, I'm thinking about all those playlists we've built but never truly shared. This acquisition might just change that by combining...

Continue Reading
Partners International Launches CareerPath for Youth

Updated Category News Views 7

A Fresh Start for Young Careers with CareerPath You remember the time in life when we thought just having a degree meant something? Well, the game’s changed, and now it’s a twisted jungle where young folks struggle to find their footing. Partners International, a name I’m no stranger to—known for their human capital wizardry—seems to have noticed this chaotic...

Continue Reading
Saudi Arabia Unveils CEER's Flagship Electric Vehicles

Updated Category News Views 4

CEER's Ambitious Leap in Automotive Innovation There's a new kid on the automotive block, and it's making some serious noise. Straight out of Jeddah, CEER has just taken the wraps off their flagship electric sedan and SUV, dubbed the EXOBOT. No small beans here—this is a full-throttle, Saudi-driven pitch into the global automotive circus. And why not? There's oil in...

Continue Reading
Handshake Introduces AI Skills Studio at NYSE Event

Updated Category News Views 8

Shaking Up the Job Market with AI Skills What's shaking things up this time around? Handshake's dramatic unveiling of its AI Skills Studio, that's what. While the world spins on its financial axis, Handshake's showing up with a toolkit that's not just geeky gobbledygook. They're dead set on prepping job seekers with the nitty-gritty of AI know-how hosted in a rather...

Continue Reading
Matchi Debuts Protein-Packed Matcha Lattes in Cans

Updated Category News Views 5

A New Twist on Protein Beverages Today, Matchi Global LLC is rolling out something new and bold: canned protein matcha lattes. It's not just another protein shake disguised in green robes. Oh no, this is a straight-up attempt to mesh pure ceremonial-grade matcha with a full 20 grams of complete filtered milk protein. And they’re delivering it all without any of those...

Continue Reading
Charter Next Generation Taps Herndon as Financial Chief

Updated Category News Views 9

Bringing New Leadership to Charter Next Generation It's an intriguing time to be watching Charter Next Generation (CNG) as they just added a heavyweight to their executive team. Todd Herndon, a veteran with more than three decades of financial savvy, steps in as their new Chief Financial Officer. This is like a football team drafting a star quarterback right before the...

Continue Reading
Aranscia Joins Northside Hospital in Precision Oncology

Updated Category News Views 7

Unifying Molecular Diagnostics for Better Cancer Care In the chaos of today’s healthcare, Aranscia is aiming to rewrite the book on how we handle cancer diagnostics by teaming up with Northside Hospital Cancer Institute. Now, instead of fumbling through disconnected systems, they plan to glue the pieces together with a blend of their own and borrowed tech. This...

Continue Reading
Gun Violence Expo Aims for National Impact in Chicago

Updated Category News Views 5

Converging Minds at the Chicago Gun Violence Expo In a city known for its resilience amid diverse challenges, the National Gun Violence Prevention Expo is stepping into the spotlight. With all eyes on Chicago from September 24 to 26, this isn't just another event—it’s a clarion call for action. Uniting Influential Voices When you've got former NFL stars like Matt...

Continue Reading
FBI Vet Marcus Thomas Joins Re-fined Nonprofit Board

Updated Category News Views 5

Remember the days when the FBI felt like a mythical fortress of surveillance and high-tech wizardry? Today, we're seeing one of its key veterans, Marcus Thomas, take a different path—a path that's as gritty and necessary as any Wall Street hustle. He's jumping onto the board of Re-fined, a Denver nonprofit aiming to give survivors of sexual exploitation and human...

Continue Reading
ABnet Touts Anthropic's AI in Corporate Evolution

Updated Category News Views 7

Changing the AI Game in Enterprise At the heart of Tel Aviv-Yafo, ABnet Communication Ltd. is spitting fire, and this ain't your average tech chatter. They're drilling right down to the marrow, stressing just how much Anthropic—kingpin of advanced AI for enterprises—is shaking up the corporate shell game. Today’s conversation leans heavily into autonomous AI, and...

Continue Reading

Top 5 Most Recently Viewed Articles

Starboard Value Challenges News Corp's Dual-Class Structure

Updated Category News Views 91

Starboard Value Presses News Corp on Governance News Corporation is under renewed scrutiny from its largest shareholder, Starboard Value LP. The investment firm says the company’s dual-class share design doesn’t put ordinary shareholders first and weighs on the value investors are willing to assign to the business. In Starboard’s view, the current setup falls short...

Continue Reading
Understanding Short Interest Trends for Expion360 (XPON)

Updated Category News Views 128

Analyzing Short Interest for Expion360 (XPON) Short interest can often reveal much about investor sentiment surrounding a stock. Recently, the short percentage of float for Expion360 (XPON) has experienced a noteworthy decline of 57.19% compared to previous figures. In recent reports, it has been disclosed that there are currently 655 thousand shares sold short, which...

Continue Reading
European Car Industry Faces Challenges Despite Low Valuations

Updated Category News Views 162

The Current Situation in the European Car Industry The automotive market in Europe is currently facing significant challenges, resulting in a sharp decline in investor confidence. With a host of issues pushing stock valuations to near-record lows, many investors are choosing to limit their involvement. Typically, such low valuations would attract buyers, but that’s not...

Continue Reading
Roblox Corporation Stock Update: Key Insights and Analysis

Updated Category News Views 394

Roblox Corporation Shares Experience Fluctuations Roblox Corporation (NYSE: RBLX) shares are encountering a downward trend this week. A recent downgrade by Raymond James analyst, Andy Marck, shifted the stock's rating from Strong Buy to Outperform. The price target, however, was increased significantly, moving from $81 to $130. Understanding the Downgrade Marck's revision...

Continue Reading
Exploring the LSBF862: A Game-Changer for Low-Noise Designs

Updated Category News Views 147

Introducing the LSBF862: Revolutionizing Low-Noise Amplification Linear Integrated Systems, known for their excellence in precision discrete semiconductors, has introduced a groundbreaking component called the LSBF862. This new N-channel JFET addresses the needs of designers facing challenges due to the discontinuation of the widely used NXP BF862. Enhanced Features for...

Continue Reading