Standard & Poor’s affirmed its BBB-plus credit rating and stable outlook for the not-for-profit ACTS Retirement-Life Communities of West Point, Pa.
The rating agency cited the organization’s financial performance, revenue base and management practices.
S&P emphasized ACTS’ revenue stream and the financial flexibility it derives from its portfolio of continuing care retirement communities throughout the East Coast region.
ACTS, which was founded in 1972, owns and manages 23 CCRCs in eight states that serve nearly 8,500 elderly persons.
It is one of only two nonprofit senior housing providers in the country with more than $1 billion in total assets, according to company officials.