Toronto, Ontario--(Newsfile Corp. - February 5, 2025) - Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the "REIT" or "Northwest"), a leading owner and operator of healthcare real estate infrastructure in North America, Brazil, Europe and Australasia, announced today that Morningstar DBRS has assigned the REIT an investment-grade issuer credit rating of BBB (low), with a stable trend.
"Today marks a significant milestone for Northwest. This rating affirms the strength of our global healthcare real estate portfolio, diverse tenant base, and high-quality operating platform. This achievement further reinforces our strategic objectives of building a resilient and institutional-quality healthcare REIT," said Craig Mitchell, CEO of Northwest.
"The assignment of an investment-grade credit rating validates our execution and progress towards strengthening the balance sheet. While we have significantly reduced leverage and improved our cost of capital, our focus remains on further strengthening our financial position," said Stephanie Karamarkovic, CFO of Northwest.
About Northwest
Northwest provides investors with access to a portfolio of high-quality international healthcare real estate infrastructure comprised as at November 14, 2024, of interests in a diversified portfolio of 185 income-producing properties and 16.1 million square feet of gross leasable area located throughout major markets in North America, Brazil, Europe and Australasia. The REIT's portfolio of medical outpatient buildings, clinics, and hospitals is characterized by long-term indexed leases and stable occupancies. Northwest leverages its global workforce in eight countries to serve as a long-term real estate partner to leading healthcare operators. For additional information please visit: www.nwhreit.com.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release constitute forward-looking information within the meaning of applicable securities laws. The forward-looking information in this news release includes statements regarding the strength of the REIT's global healthcare real estate portfolio, diverse tenant base, and operating platform and the REIT's goal of becoming an institutional-quality REIT and further strengthening its financial position. The REIT has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, financial performance, business strategy and financial needs. These assumptions include, but are not limited to, those relating to the REIT's ability to complete future asset sales and deleverage, the REIT being able to realize operational efficiencies and cost savings, interest rates remaining stable or decreasing, the REIT's properties continuing to perform, and currency exchange rates remaining stable. Although the forward-looking statements contained in this news release are based on assumptions that management of the REIT believe are reasonable, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the REIT's control, including, among other things, the risks that the REIT will be unable to realize the accretion, deleveraging, cost savings and other goals noted in this news release, as well as the business and industry risks identified in the REIT's annual information form and MD&A filed under the REIT's SEDAR+ profile at www.sedarplus.ca.The forward-looking statements in this news release relate only to events or information as of the date hereof. Except as required by applicable Canadian securities laws, the REIT undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated event.
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