Fitch Ratings recently affirmed Moorings Park Communities' ‘A’ outlook, which has been upheld by the Life Plan Community since 2015.
“We are one of only five senior living organizations in the country that is rated A/A+ by Fitch Ratings and S&P Global Ratings,” said Moorings Park Communities’ Vice President, Tom Mann. “That financial stability is very important to today’s active boomers and seniors when they are shopping for the retirement community of their dreams. It’s also one of the variables that Newsweek used for determining the top Continuing Care Retirement Communities in the country.”
The Fitch rating reflects Moorings Park Communities’ sound financial profile, high operational performance, and strong revenue defensibility. These standings are highlighted by solid occupancy across the three communities located in Naples, Florida, a socioeconomically strong area, and a high demand for its newest community, Moorings Park Grande Lake.
To get more granular, Moorings Park Communities’ strong revenue defensibility reflects a solid census across all three communities: Moorings Park, Moorings Park at Grey Oaks, and Moorings Park Grande Lake. This means that occupancy in both independent and assisted living residences remained high, even as new buildings are built, expanding the occupancy. Fitch attributes this to the Life Plan Community’s long operating history, favorable location, attractive service offerings, and competitive pricing.
Regarding the low operating risk, Fitch representatives have commented that, “[Moorings Park Communities’] operating performance over the previous three fiscal years is consistent with Fitch's expectations.” Additionally, Fitch expects the Life Plan Community’s financial profile to remain consistent with their 'A' assessment, even as a new assisted living and memory care building is added to Moorings Park Grande Lake.
“We are very pleased to achieve this distinction once again,” said Moorings Park Communities CEO Dan Lavender. “It reflects our ongoing commitment to provide ‘Simply the Best®’ amenities and lifestyle, as well as incredible concierge healthcare services, to our residents. We are confident that everything we do from this moment forward will continue to contribute to the success of our incredible communities.”
With a tradition of excellence that spans over more than 40 years, Moorings Park Communities is a nationally accredited, Medicare-certified, non-profit retirement living provider. Moorings Park Communities is setting the standard for Southwest Florida retirement communities, offering luxury residences, world-class amenities, and outstanding healthcare services across all three campuses in Naples, Florida: Moorings Park, Moorings Park at Grey Oaks, and Moorings Park Grande Lake. For more information go to www.MooringsPark.org, visit our Facebook page, or call 239-451-5509.
