Eliza Jennings Earns BB+ Fitch Rating with Stable Outlook
(Cleveland, Ohio) – Eliza Jennings, a nationally recognized expert in quality aging services, is pleased to announce that Fitch Ratings has assigned the organization a first-time ‘BB+’ Issuer Default Rating with a stable rating outlook.
Assigned ratings are a designation of an organization’s creditworthiness. The initial Fitch Rating is a culmination of Eliza Jennings’ strategic planning initiatives to strengthen liquidity and enhance amenities as well as construct a new assisted living facility on the Renaissance campus, scheduled to open in September 2022. This rating will serve to reduce interest costs, and Leadership will continue to manage operations with the goal of upgrading this initial rating when feasible.
“This rating initiation by Fitch demonstrates Eliza Jennings’ financial strength and stability, responsible stewardship, and quality operations, especially while meeting the challenges brought about by the pandemic,” said President and CEO Richard M. Boyson Jr. “The rating enhances our ability to continue to provide mission-driven, exceptional care to the older adults we serve now and in the future.”
The Fitch Ratings report is available here: https://www.fitchratings.com/research/us-public-finance/fitch-rates-eliza-jennings-senior-care-network-oh-ser-2022a-bonds-bb-outlook-stable-20-05-2022
Fitch Ratings is a credit rating agency that rates the viability of investments relative to default and ranks among the top credit rating agencies internationally.