Copied from Perplexity:
To obtain Fitch Ratings for Continuing Care Retirement Communities (CCRCs), follow these steps:
1. Understand Fitch Ratings for CCRCs
Fitch Ratings evaluates the financial strength and creditworthiness of CCRCs, focusing on their ability to meet financial obligations. The ratings are based on factors such as:
• Revenue Defensibility: Market assessment, occupancy rates, and waitlists.
• Operating Risk: Cost management and capital expenditure requirements.
• Financial Profile: Metrics like cash-to-debt ratios and debt service coverage.
These ratings help investors, residents, and stakeholders assess the financial health of a CCRC.
2. Access Fitch Ratings
• Directly from Fitch: Fitch Ratings maintains public ratings for approximately 159 life plan communities (LPCs) in the U.S. You can access these ratings through Fitch’s website or by purchasing their detailed reports. The website is https://www.fitchratings.com/
3. Consider Related Resources
If a CCRC does not have a Fitch Rating:
• Look at other credit rating agencies like Standard & Poor’s (S&P), which also rate some CCRCs.
• Check for CARF accreditation, which includes a review of financial performance as part of its evaluation process
4.Not all CCRCs are rated by Fitch or other agencies. Only about 20% of CCRCs have publicly issued debt and corresponding ratings. For non-rated CCRCs, prospective residents or investors should conduct thorough due diligence, including reviewing financial statements and consulting experts.
Ann MacKay
Charlestown in MD