Moorings Park Communities announced that its A+ ratings by Standard & Poor’s Global Ratings (S&P) have been affirmed. With a tradition of excellence that spans over more than 40 years, Moorings Park Communities is a nationally accredited, Medicare-certified non-profit and one of the only Life Plan Communities in the country with A+ ratings by S&P.
“We are very pleased to once again achieve this distinction,” said Moorings Park Communities CEO Dan Lavender. “It reflects our ongoing commitment to our residents to provide ‘Simply the Best’ amenities and lifestyle, as well as incredible concierge healthcare services for the past 40 years and counting.”
The affirmed A+ issuer credit rating (ICR) on the Moorings Park Institute, Inc. (MPI), the parent company of Moorings Park Communities that is legally known as The Moorings, Inc, reflects MPI’s ability to meet its financial obligations in full and on time, as well as MPI’s excellent adjusted maximum annual debt service (MADS) coverage, better-than-budgeted operating performance, financial flexibility, and stable liquidity.
The rating and stable outlook also reflects S&P’s expectation that MPI’s demand will remain consistent due to the development and expansion of Moorings Park Grande Lake, noting the favorable location of the campus, healthy housing market, strong and experienced leadership team, and previous successes regarding the completion of projects on time and within budget. S&P noted that they expect MPI will continue to experience healthy demand for pre-sales of new units at Moorings Park Grande Lake, which is likely indicative of strong future demand, further contributing to their rating and stable outlook.
S&P reported that, “demand across all [of] Moorings Park [Communities’] three separate campuses is solid, having recovered following renovation projects, expansions, and the pandemic.” S&P also anticipates that the ongoing projects at Moorings Park Grande Lake will be accretive to the overall enterprise profile due to an effective and efficient turn-key process that minimizes risk.
Moorings Park Communities is setting the standard for Southwest Florida retirement communities, offering luxury residences, world-class amenities, and outstanding healthcare services across all three campuses in Naples, Florida: Moorings Park, Moorings Park at Grey Oaks, and Moorings Park Grande Lake. For more information go to www.MooringsPark.org, visit our Facebook page, or call 239-919-1620.
