January 22, 2024 —Kendal at Oberlin, a vibrant Ohio life plan community (also known as a continuing care retirement community, or CCRC), is pleased to announce that Fitch Ratings has affirmed the organization’s Issuer Default Rating (IDR) at ‘A+’ and the rating outlook is stable. According to the report from Fitch, “the affirmation of the ‘A+’ IDR reflects KaO’s strong market position as a life plan community (LPC), with a national draw and minimal local competition for its Type ‘A’ contract.”
Credit ratings are financial analysts’ assessments of a business or municipality’s credit risk, that is, an entity’s ability to meet its financial obligations in full and as scheduled… While the assignment of a credit ratings is an inexact science, it is one way that is publicly available to examine a CCRC’s financial viability.
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As prospective residents plan for future needs, knowing that a community is strong financially is an important consideration. The reassurance that an organization is carefully planning for the future helps to predict long term success and stability.
Fitch rates over 150 life plan communities nationwide. Kendal at Oberlin is one of the few to achieve the A+ rating. According to Kendal at Oberlin’s CFO, Ann O’Malley, “It really is a tribute to the entire Kendal team as it takes everyone working together to achieve this level of financial strength. We could not have achieved this without everyone’s financial stewardship!”
About Kendal at Oberlin: Kendal is a nonprofit life plan community serving older adults in northeast Ohio. Located just one mile from Oberlin College and Conservatory, and about a 40 minute drive from downtown Cleveland, the community offers a vibrant resident-led lifestyle with access to music, art and lifelong learning.