Moody's assigns P-2 rating to HCP's new commercial paper program and affirms existing ratings
Rating Action: Moody's assigns P-2 rating to HCP's new commercial paper program and affirms existing ratings. Global Credit Research- 18 Sep 2019. New York, September 18, 2019-- Moody's Investors Service has assigned a Prime-2 short-term rating to HCP, Inc's $1 billion senior unsecured commercial paper program in the U.S.HCP is a real estate investment trust which invests in real estate serving the healthcare industry. The company acquires, develops, leases, and manages and disposes of healthcare real estate. The company's segments are: senior housing triple-net and senior housing operating portfolio, which include independent living facilities, assisted living facilities, memory care facilities, and continuing care retirement communities; life science, which contains laboratory and office space for biotechnology, medical device and pharmaceutical companies, scientific research institutions, government agencies and other organizations; and medical office, which contains physicians' offices and examination rooms.
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