I don't see why HCW needs to buckle and drop rents. Buyers need to price assets off current and forecast EBITDA / FFO. If that means the buyers bid less for the assets based on current rent terms then that is a problem only for the banks.
If any rent relief is provided, then HCW need to claw back ALL lost value. For example, they need to be able to share in any revenue uplift should the Govt force health insurers to pay more to the hospitals.
Remeber, HCW has a nuclear bomb in its cross default. But seems like receivers don't want this to happen as it would nuke the banks. Recent deal highlights to me that HCW holds the cards.
HCW Price at posting:
78.0¢ Sentiment: Buy Disclosure: Held
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