CCRC ratings outlook is stable
It will be smooth sailing for continuing care retirement communities for the end of this year and through 2016, according to a new report by Fitch Ratings.
The “2015 Median Ratios for Nonprofit Continuing Care Retirement Communities” report, released in September, showed the CCRC outlook is stable for the third straight year. Fitch's investment-grade median ratios also signaled improvement in CCRCs' core operating performance.
The recovery of the housing market has been a driving factor for improved CCRC performance, according to the report.
Median capital spending skyrocketed across all of Fitch's rating categories in 2014, with the investment-grade median reaching 106.6% in 2014, compared to 86.4% in 2013.
Median ratios stayed largely unchanged for CCRCs in the A and BBB ratings categories.