Fitch Ratings continues with ‘BBB+ Rating for Carolina Meadows
Key rating drivers continue to include strong independent living (IL) demand, financial profile, and operating performance with steady revenue unrestricted liquidity growth and very good cost management. The BBB+ rating is reflective of the debt that Carolina Meadows will take on to build a brand new 90-bed skilled Nursing Center.
Carolina Meadows is extremely excited about this major achievement and appreciates the great support and contributions we receive from so many members of our wonderful community. We could not have achieved this important milestone otherwise.
Tad Melton, Managing Director of Ziegler Capital Market’s Senior Living Finance Group, stated “Carolina Meadows is a premier life plan community, located in Chapel Hill, North Carolina. As evidenced by its BBB+ rating from Fitch Investors Service, Carolina Meadows possesses a first-rate campus and suite of resident services, strong governance and management, and an extremely strong financial position. This places Carolina Meadows within a small group of high-performing and well-regarded communities.”
Fitch Ratings Press Release on Carolina Meadows
Fitch Ratings, originally founded in 1914, is a leading global rating agency committed to providing the world’s credit markets with credit opinions. Dual headquartered in New York and London, Fitch operates across the globe, providing insurer financial strength ratings for companies in multiple industries. Fitch Ratings was one of the three ratings agencies first recognized as a nationally recognized rating organization (NRSRO) by the Securities and Exchange Commission in 1975.
Carolina Meadows, Inc. is a nonprofit North Carolina corporation qualified as a tax-exempt organization under IRS Code Section 501(c)(3). We provide housing, health care and other related services to our residents through the operation of a life plan community currently consisting of 287 villas, 156 apartments, 78 assisted living apartments and a 90-bed health center located in Chatham County, North Carolina.