Standard & Poor's Affirms Financial Health of ACTS Retirement-Life Communities

WEST POINT, Pa., Dec. 5, 2011 /PRNewswire-USNewswire/ -- ACTS Retirement-Life Communities, one of the nation's largest continuing care retirement community (CCRC) organizations, recently announced that Standard & Poor's (S&P) Ratings Services has affirmed its 'BBB+' credit rating with a stable future outlook.

The ratings reflect the view that demand for ACTS communities will continue to remain strong and that ACTS is well positioned to maintain solid operating performance and remain profitable.

In their report, S&P cited ACTS' solid financial performance, strong revenue base, and effective management practices. S&P placed significant weight on ACTS' revenue size and the financial flexibility it derives from its portfolio of CCRCs located throughout the East Coast. S&P also noted the positive benefits resulting from ACTS' two affiliations in 2010 with Peninsula United Methodist Homes and Heron Point of Chestertown, Maryland, that should lead to continued financial and operating stability.

"The affirmation of ACTS' credit rating during this period of continued economic volatility reflects the commitment and many efforts of our leadership team to assure the financial stability of the organization on behalf of our residents and employees," said Gerald T. Grant, ACTS Executive Vice President and CFO.

"We continue to enjoy efficiencies in the collective operation of our communities. This contributes significantly to our overall financial strength and ensures that we are well positioned to continue meeting our mission."

ACTS is one of the premier not-for-profit organizations in the senior living industry, with revenues of more than $343 million and assets exceeding

$1.2 billion. ACTS follows a conservative growth model and has achieved steady growth in the senior living industry through new development projects and acquisitions. ACTS maintains the largest number of accredited communities by CARF-CCAC for financial stability, governance, quality of life and health care.

Headquartered in West Point, Pennsylvania, ACTS currently owns and manages 23 retirement communities in eight states that serve nearly 8,500 seniors. ACTS communities are located in Pennsylvania, Delaware, Maryland, North and South Carolina, Georgia, Alabama, and Florida. Each ACTS campus features multiple residential styles and levels of care. For more information about ACTS please visit: ACTSretirement.org.  

CONTACT: Michael Smith, +1-215-661-8330  x00580, [email protected]

SOURCE ACTS Retirement-Life Communities