Fitch Affirms Financial Health of ACTS Retirement-Life Communities with A- Rating - Wandtv.com, NewsCenter17, StormCenter17, Central Illinois News-

Fitch Affirms Financial Health of ACTS Retirement-Life Communities with A- Rating

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE ACTS Retirement-Life Communities

Ratings Agency Cites Strong Performance and Management of Nation's Largest Not-for-Profit Senior Living CCRC Organization

WEST POINT, Pa., June 26, 2014 /PRNewswire-USNewswire/ -- ACTS Retirement-Life Communities, announced today that Fitch Ratings Services has given a positive assessment of the organization's financial health with an 'A-' rating. ACTS is the largest not-for-profit owner, operator and developer of continuing care retirement communities (CCRCs) in the United States serving approximately 8,500 seniors within its 23 communities located throughout the east coast.

ACTS Retirement-Life Communities Logo.

Fitch cited ACTS' consistent financial performance and effective management practices in its assessment. Fitch placed significant weight on ACTS' revenue size due to the financial flexibility it derives from its portfolio of CCRCs. Fitch noted the recent integration of two affiliated entities, Peninsula United Methodist Homes and Magnolia Trace, into the ACTS obligated group led to further diversifying its coverage and increasing annual revenues by over $50 million

ACTS remains one of the strongest companies of its kind among not-for-profit senior living providers. In addition to its A- rating from Fitch, ACTS maintains a BBB+ rating from Standard and Poor's. The 23 ACTS communities consist of approximately 5,300 independent living units, 850 assisted living units and 1,360 skilled care beds.

"We are extremely pleased that Fitch continues to recognize ACTS' overall financial health and express their confidence in the organization, our board of directors and management team," said Gerald T. Grant, ACTS Executive Vice President and Chief Financial Officer. "These strong assessments are important because they provide further confirmation of ACTS' financial stability to our residents and investors."

About ACTS
Headquartered in suburban Philadelphia, ACTS Retirement-Life Communities, Inc., is one of the nation's premier senior living CCRC organizations. ACTS provides a full range of personalized senior care services including independent living, assisted living and skilled nursing care residences through its family of retirement communities in Pennsylvania, Delaware, Maryland, North and South Carolina, Georgia, Alabama, and Florida. Website: ACTSretirement.org.

CONTACT:
Michael Smith
215.661.8330
msmith@actslife.org

Logo - http://photos.prnewswire.com/prnh/20140626/121979

©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow

904 South Side Drive
Decatur, IL 62521
Primary Phone: 217-424-2500
Primary Email: news@wandtv.com

All content © Copyright 2000 - 2014, WorldNow and WAND. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms