S&P Global Ratings has affirmed Moorings Park Communities’ ‘A+’ credit rating, which reflects the organization’s high demand, steady occupancy, and robust home health business, as well as the success of Moorings Park Grande Lake and its development.
According to S&P, the A+ issuer credit rating of Moorings Park Institute (MPI), the parent organization of Moorings Park Communities with its three Naples-based campuses, is due to a strong demand with stable occupancy rates across independent living, assisted living, and skilled nursing, a solid financial performance with positive operating cash flow driven by entrance fees, and an experienced management team with a successful track record.
"This recognition is a testament to our unwavering commitment to providing 'Simply the Best' amenities, lifestyle opportunities, and healthcare to our residents,” said Dan Lavender, CEO of Moorings Park Communities. “As one of the nation’s most financially secure not-for-profit senior living organizations in the country, this prestigious rating is yet another affirmation of Moorings Park Communities’ position as Southwest Florida’s top retirement community.”
The rating and stable outlook also reflects S&P’s expectation that the demand for Moorings Park Grande Lake will remain consistent, noting Naples’ healthy housing market, capable and strong leadership team, history of conservative fiscal practice, and track record of completing expansion and renovation projects on time and within budget. The organization’s policies and portfolio are viewed as conservative by S&P, with risk being mitigated in multiple ways.
S&P reported that, “demand across all [of] Moorings Park [Communities’] three separate campuses remains solid. We continue to anticipate that entrance fees and demand will likely remain solid, somewhat offsetting the growth in the expense base from recent projects, which we expect to be the accretive to the overall financial and enterprise profiles once fully operational.”
Moorings Park Communities is a nationally accredited, Medicare-certified, non-profit retirement living provider and one of the only Life Plan Communities in the country with A or A+ ratings by Fitch Ratings and S&P Global Ratings. Fitch Ratings has also reaffirmed Moorings Park Communities' ‘A’ outlook, which has been upheld by the Life Plan Community since 2015.
Ranked the #1 retirement community in Southwest Florida, Moorings Park Communities is setting the standard for luxury retirement living, offering upscale 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. To learn more about, go to www.MooringsPark.org, visit the Moorings Park Communities Facebook page, or call 239-451-5509.