Fitch Ratings has assigned an upgraded rating of ‘A-’ with a stable outlook for the 14 California HumanGood life plan communities. This is an upgrade from our previous rating of ‘BBB+’.
The new credit rating will allow HumanGood to obtain more favorable borrowing rates for refinancing, resulting in significant savings for the future.
“This is a big win for HumanGood,” said John Cochrane, HumanGood CEO and president. “Along with our affiliation with Presby’s Inspired Life, this will help us invest in our future success and inspire more people to live their best lives possible.”
HumanGood’s affiliation with Presby’s Inspired Life, a regional leader of continuing care and affordable housing for seniors in greater Philadelphia, closed on June 30. As a result of the affiliation, the company became the 6th largest national non-profit senior living provider, with John Cochrane assuming leadership as CEO of the united organization.
The united organization will provide enhanced performance and care, create more opportunities for team members across a wider network of communities, and provide greater financial resources for new products, services and communities.