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Article: Fitch Affirms Royal Oaks Life Care Community's Arizona Bonds at 'A'; Outlook Stable.
- Article from:
- Obesity, Fitness & Wellness Week
- Article date:
- November 14, 2009
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Fitch Ratings has affirmed the 'A' underlying rating on the $17,500,000 Arizona Health Facilities Authority's (Royal Oaks Life Care Community Project) series 2002 variable-rate demand bonds (see also Fitch Ratings).
The Rating Outlook is Stable.
The affirmation is based on Royal Oaks Life Care Community's (ROLC) solid historical occupancy, substantial, albeit reduced liquidity position, and stable core operating performance (when adjusted for investment activity and variance in contribution income). Occupancy of ROLC's 373 independent living units (ILUs) has exceeded 95% in each of the last four years and is reported at 94.7% for the six months interim ...