Kendal at Oberlin’s S&P Rating Remains ‘A’

Kendal at Oberlin continues to have an ‘A’ rating from Standard and Poor’s S&P Global Ratings. Only about 10% of rated not-for-profit continuing care retirement communities have achieved this.

Blocks spell S and P - ratings

From S & P Global’s June 2020 Report:

“The rating reflects Kendal’s extensive diversity with the ability to attract a wide array of people from 36 states and the District of Columbia while maintaining a high occupancy rate and ample waitlist numbers showing a desire to join the community.

Kendal also benefits from an experienced management team, with further support from the Kendal Corporation, with historical results of coming in above budget and continuing to manage facilities including a multi-wave living quarters’ improvement plan with additional upgrades to community spaces.”

S & P Global Ratings

The analysts based their rating and stable outlook on Kendal’s:

  • Maintenance of sound occupancy and demand, including the transition of care types and a current active waitlist of close to 200;
  • Well tenured management team with proven results and effective leadership prior to and throughout the current pandemic.

Kendal was cited for its effective response to COVID-19, which included a hard closure of the campus, increased usage of technology to create an enhanced virtual community, and a mandatory 14-day quarantine for new residents who moved in during the hard closure.

Strategic Focus Creates Strong Foundation

Ann O’Malley, Kendal’s Chief Financial Officer, credits board leadership for its help in navigating the current financial climate. “The strategic focus of Kendal at Oberlin’s Board of Directors has supported a culture of collaboration and planning, which has laid a strong foundation to weather the COVID-19 pandemic and its related economic challenges.”

Other Kendal assets include its positive culture for staff as evidenced by its accreditation as a silver level Employer of Choice (LeadingAge Ohio), the Stephens Care Center’s 5-star quality rating from the Centers for Medicare & Medicaid Services and the many loyal alumni of Oberlin College who are drawn back to the area.

Kendal at Oberlin operates 223 independent living cottages and apartments (ILUs), a 12-bed skilled nursing facility, and 67 licensed residential care (personal care) suites on a single site. Kendal at Oberlin is predominantly a life care (Type A) community and is an affiliate of The Kendal Corp., which offers services to Kendal at Oberlin and 13 other affiliates in the United States. Kendal at Oberlin is located in Oberlin, Ohio, less than one mile from Oberlin College and 35 miles west of Cleveland