PARKVILLE, MD—Oak Crest announced that Standard & Poor's raised its long-term rating from 'BBB+' to 'A-' on Baltimore County, MD's series 2007A senior living bonds issued for the Parkville-based Erickson Living retirement community.
"The upgrade reflects additional information about Oak Crest's master facilities plan, consistently strong operating performance over the past several years, stable demand and solid balance sheet commensurate with the 'A-' rating," said Standard & Poor's credit analyst Liz Sweeney in a statement issued on December 23rd.
Oak Crest will celebrate its twentieth anniversary in March, 2015.
In August, 2014, Fitch Ratings provided an "A" grade for the Baltimore County, Maryland series 2007A bonds issued on behalf of Oak Crest, noting the community's continued liquidity growth, solid financials from 2013 and competitive service area as key rating drivers.
More information regarding the Standard & Poor's report regarding Oak Crest Village, Inc. can be found at www.standardandpoors.com.
About Oak Crest: Oak Crest is one of eighteen continuing care retirement communities managed by Erickson Living. Located in Parkville, Maryland the scenic 87-acre campus is home to more than 2,100 residents. Oak Crest is the ideal greater Baltimore retirement destination offering a true sense of community, convenience beyond compare and a sensible financial structure.