Lancaster, PA – Willow Valley Communities has again received a coveted “A” rating with a Stable Rating Outlook from Fitch Ratings, a leading provider of credit ratings, commentary, and research. Willow Valley Communities is one of the largest not-for-profit senior living communities in the country, serving approximately 2,500 residents in over 1,500 independent living residences and 500 supportive living accommodations.
Fitch Ratings, based in New York City and London, is the predominant debt rating agency in the senior living sector. The “A” rating communicates overall financial health to the residents who live at Willow Valley Communities, as well as to prospective residents, as they assess the organization’s strength.
Fitch stated in its analysis that the ‘A’ rating reflects the expected future resilience of Willow Valley Communities’ financial profile. Fitch listed Willow Valley Communities’ unique national draw, modest pricing relative to its higher end amenities, strong operating risk, a history of solid operations and robust capital spending, and its Type ‘A’ Lifecare contract (Lifecare provides personal care, nursing care, or memory support, should it be needed, with no change to the resident’s monthly service fee because of the increased level of care).
Fitch also noted the demand for services at Willow Valley Communities is indicated by its independent living occupancy above 90% across its more than 1,500 independent living residences. Additionally, Willow Valley Communities’ market position as a destination community with approximately half its residents coming from outside of Pennsylvania from about 40 different states further insulates it from changes in the local economy or housing market.
Responding to the news of the Fitch A rating, Dennis W. Griest, President of Willow Valley Living, the management company for Willow Valley Communities, expressed how pleased he was with the report. “Willow Valley Communities has enjoyed a long history of financial strength. This affirmation by Fitch attests to the excellent operational performance and strong commitment to financial stewardship exhibited by our Leadership Team and Team Members, and to the astuteness of our Board of Directors, whose support and guidance inspire our achievements.” Mr. Griest added, “I want to thank each of our 1,400 team members for the part they play in helping Willow Valley Communities obtain and maintain this rating. This achievement represents a team effort.”
View Willow Valley Communities’ press release in a downloadable PDF.
