Fitch Ratings Affirm “A” Grade to Oak Crest Village, Inc. Bonds
November 8, 2018
Parkville, Maryland—(October 30, 2018)--Oak Crest Village, Inc. (OCV), an Erickson Living retirement community, announced that Fitch Ratings affirmed its "A" grade for the Baltimore County, Maryland series 2016A bonds issued on behalf of OCV and revised its outlook to "Positive".
The report noted Oak Crest's solid financial profile and strong demand for services among the key rating drivers for its "A" affirmation.
It also described the community's "ongoing marketing campaigns, large wait list and investment in plant" as factors for the highly competitive performance by Oak Crest in the Baltimore region.
In 2018, Oak Crest completed the first component of a multi-phase capital repositioning plan to its 87-acre campus. The Town Center project included an expanded fitness & aquatics center, two new dining venues and additional meeting space.
All Fitch credit ratings are subject to certain limitations and disclaimers which can be found at https://www.fitchratings.com/UNDERSTANDINGCREDITRATINGS.
About Oak Crest: Oak Crest, one of 19 continuing care retirement communities managed by Erickson Living®, is situated on a scenic 87-acre campus in Parkville, Maryland. The community is located in Baltimore County and is home to more than 2,100 residents. Additional information about Oak Crest can be found at OakCrestCommunity.com.