Ventas, Inc. is rated investment grade by Standard & Poor’s (BBB-) and Fitch Ratings (BBB-). As part of our overall business strategy we strive to maintain a strong balance sheet and credit statistics, maintaining financial strength and flexibility as we continue to grow and diversify our business. Over the years, Ventas has improved its credit ratings by growing cash flow and liquidity, increasing profits and maintaining conservative debt positions. In addition, we remain focused on protecting the downside in our existing and future investments through relentless vigilance on risk, structuring our deals conservatively, choosing quality partners to work with and seeking acquisitions that have sustainable cash flows.

We believe that our stronger balance sheet and improved credit ratings show the Company's long term commitment to provide a secure investment for its various constituents. As well, they give Ventas more choices as we implement our strategic diversification plan.

Standard & Poor's

• Ventas Corporate Credit, Senior Unsecured Debt Ratings Raised To 'BBB-'; Outlook Stable (February 5, 2008)

Fitch Ratings

• Fitch Revises Ventas, Inc.'s Outlook to Positive; Affirms IDR at 'BBB-'
  (August 12, 2008)
• Fitch Affirms Ventas, Inc.'s Senior Unsecured Debt at 'BBB-' (August 31, 2007)

Moody's Investors Service

• Moody's Upgrades Ventas to Ba1 Stable (September 24, 2007)

Updated: August 13, 2008