West Point, PA (PRWEB) August 21, 2013
ACTS Retirement-Life Communities (ACTS) announced today that Standard & Poor’s (S&P) ratings agency has given a positive assessment of its financial health by affirming ACTS’ ‘BBB+’ credit rating with an outlook of stable. The ratings reflect the view that demand for ACTS communities will continue to remain strong and that ACTS is well positioned to remain profitable. ACTS is the nation’s largest owner, operator and developer of continuing care retirement communities (CCRCs) with a portfolio of 23 CCRCs located throughout the east coast.
In their report, S&P cited ACTS’ solid financial performance, strong revenue base, and effective management practices as the key factors in its ratings assessment. S&P placed significant weight on ACTS’ revenue size and the financial flexibility it derives from its network of CCRCs, which enables the organization to achieve operating and cost efficiencies that should lead to continued financial stability.
“We are extremely pleased that S&P has affirmed our investment grade rating,” said Gerald T. Grant, ACTS Executive Vice President and Chief Financial Officer. “These ratings send a strong message to our residents, employees and investors of their shared involvement with a financially strong organization whose Board and experienced management team are firmly committed to achieving both steady growth and fulfilling our mission.”
ACTS is one of the premier not-for-profit organizations in the senior living industry, with revenues of more than $380 million and assets exceeding $1.2 billion. ACTS has achieved steady growth in the senior living industry through new development projects and acquisitions, and maintains the largest number of accredited communities by CARF-CCAC for financial stability, governance and resident services.
Headquartered in West Point, Pennsylvania, ACTS Retirement-Life Communities serves approximately 8,500 seniors in Pennsylvania, Delaware, Maryland, North and South Carolina, Georgia, Alabama and Florida. Each ACTS campus features multiple residential styles and levels of care. For more information about ACTS please visit ACTSretirement.org.