CareTrust REIT, Inc.: Update following upgrade to Ba2; outlook stable
Moody’s ratings for CTRE reflect the company’s strong cash flow metrics, solid liquidity and fully unencumbered asset pool offset by small size and moderate tenant concentration.CareTrust REIT is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of seniors housing and healthcare-related properties. The company leases healthcare-related properties to healthcare operators in triple-net lease arrangements, under which the tenant is solely responsible for the costs related to the property (including property taxes, insurance, and maintenance and repair costs). The company's real estate portfolio consists of skilled nursing facilities, multi-service campuses, assisted living facilities and independent living facilities.
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