Report Shows CCRC Financial Stability – Conference Call
Median financial ratios for not-for-profit continuing care retirement communities exhibited stability in fiscal 2011, according to a new report by Fitch Ratings.
Most operational, liquidity, and leverage metrics were in line with prior year performance, with some medians showing gains. Notably, median coverage of maximum annual debt service, including only turnover entrance fees, continued a positive trend, improving to 2.2x from 2x, year over year.
‘Management teams continue to focus on maintaining solid financial performance, in the face of a sluggish economy,’ said Michael Burger, Director.
However, capital spending as a percentage of depreciation continued its downward trend, hitting a five-year low, dropping to 86.7%.
Fitch will host a conference call to discuss the report on September 20 at 2:00 PM eastern time.
Dial-in details are:
–U.S. Participant Dial-In Number: (877) 467-8597
–International Dial-In Number: (706) 643-6296
–Conference and Replay ID: 29866297
Replay will be available for 30 days:
–Replay Dial-In Number for U.S. participants: (855) 859-2056
–Replay Dial-In Number for international participants: (404) 537-3406
For more information, a special report titled ‘2012 Median Ratios for Not-For-Profit Continuing Care Retirement Communities ‘ is available on the Fitch web site at ‘www.fitchratings.com‘.