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Article: Fitch Affirms Sunset Retirement Communities, Ohio Bonds at 'A-'; Outlook Stable.
- Article from:
- Managed Care Weekly
- Article date:
- June 22, 2009
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Fitch Ratings has affirmed its 'A-' rating on approximately $20 million of County of Lucas, OH health care facilities revenue, refunding and improvement bonds, series 2000A, issued on behalf of Sunset Retirement Communities (Sunset). Fitch does not rate the approximately $13.3 million of County of Lucas, OH adjustable-rate demand bonds, series 2000B, which are secured by a letter of credit (LOC) from Fifth Third Bancorp. The Rating Outlook is Stable (see also Fitch Ratings).
The affirmation reflects the excellent occupancy in Sunset's independent living units (ILUs) and skilled nursing beds (SNFs), which were both at 99% in 2008. ILU and SNF occupancy has been ...