American Health Properties, Inc. reports Moody's assignment of Baa3 rating to senior unsecured debt.DENVER--(BUSINESS WIRE)--Dec. 3, 1996--American Health Properties, Inc. (NYSE NYSE See: New York Stock Exchange :AHE) reported that Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. (Moody's) has assigned ratings to various securities of AHE. This is the first time Moody's has rated securities of AHE. The ratings assigned were Baa3 to AHE's senior privately placed unsecured debt Unsecured debt Debt that does not identify specific assets that the debtholder is entitled to in case of default. , and Ba2 to its convertible subordinated dual currency Swiss debt. In addition, Moody's assigned prospective ratings to securities issuable off of AHE's $275 million shelf registration. These ratings are (P)Baa3 for senior debt, (P)Ba2 for subordinated debt, (P)"ba2" for cumulative preferred stock Cumulative preferred stock Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock. , and (P)"ba3" for non-cumulative and for junior preferred stock. AHE is a real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) specializing in quality health care facilities. The Company currently has in excess of $600 million in investments in health care facilities located in 17 states. CONTACT: American Health Properties, Inc., Denver Joseph P. Sullivan, 303/796-9793 |
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