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“Typically, rental payments from healthcare properties are more operations dependent than in standard CMBS. Thus, we treat this transaction as a whole-business securitization” Guillaume Langellier, Fitch Ratings |
The hospitals backing GHG healthcare’s Theatre (Hospitals) transaction, which was launched last month, should be pretty familiar to the ABS market by now; this is the third time they have been securitized. The first deal was subsequently refinanced (and then withdrawn) to be replaced by this latest structure, the product of South African healthcare group Netcare’s acquisition of GHG in April 2006 for £2.2
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