Fitch Ratings Affirms Financial Health of Peninsula United Methodist Homes

HOCKESSIN, Del., Dec. 5, 2011 /PRNewswire-USNewswire/ -- Peninsula United Methodist Homes (PUMH), a Delaware-based owner of three continuing care retirement communities (CCRCs), recently announced that Fitch Ratings services has given a positive assessment of its financial health.

According to Fitch, the 'BBB' rating assigned to PUMH reflects the benefits realized from its affiliation with ACTS Retirement-Life Communities (revenue bonds rated 'A-' by Fitch), resulting in significantly improved financial strength and performance. In May 2010, PUMH completed an affiliation agreement with ACTS, which assumed management and operation of PUMH's three CCRC campuses.

In their report, Fitch cited that PUMH has realized the operational, managerial and scale benefits from its affiliation with ACTS, one of the nation's largest not-for-profit CCRC providers. Fitch placed significant weight on ACTS' revenue size and the financial flexibility it derives from its portfolio of 23 CCRCs located throughout the East Coast.

"As we looked for ways to make our organization more successful, we realized that we could be stronger if we were part of a larger group in ACTS, which has a proven track record of leadership, financial stability and strong operations," said William E. Holloway, former chairman of the PUMH Board of Directors. "Our affiliation with ACTS has strengthened our financial standing and ensures that we are well positioned to continue meeting our mission of providing the high quality care and services our residents desire."

Founded in 1954, PUMH is a not-for-profit organization that operates three CCRCs in Delaware: Country House in Greenville; Manor House in Seaford; and Cokesbury Village in Hockessin. Collectively, the three communities are home to approximately 800 residents, and each is accredited by CARF-CAAC for financial stability, governance, quality of life and health care. PUMH is an affiliate member of ACTS Retirement-Life Communities. For more information about PUMH please visit: ACTSretirement.org.

Contact:
Michael Smith
215.661.8330 x00580
[email protected]

SOURCE ACTS Retirement-Life Communities