Evanston, Ill. – April 28, 2016 – Today, Presbyterian Homes, the independent, not-for-profit and faith-based organization providing the highest level of quality independent living residential communities, health-care programs and services for older adults from diverse backgrounds, announced it received an A- rating from FITCH Ratings, the global leader in credit ratings and research.

The rating, which is based on a comprehensive study of the organization’s five campuses in Evanston, Lake Forest and Arlington Heights, and its holding company, Presbyterian Homes Obligated Group, overwhelmingly met its key rating drivers: an adequate liquidity position, an improving operating performance, moderate debt burden and favorable market characteristics. The outlook for the organization is very positive.

“Transparency is critical to our business,” said Presbyterian Homes Chief Financial Officer Mark Havrilka. “Current and future residents, employees, and business partners can be assured that we are responsibly managing our revenue for this generation and those to come.”

“Presbyterian Homes earned credit ratings of A- and BBB+ from FITCH and Standard & Poor’s, respectively,” said Will Carney, managing director, Ziegler, the full-service, specialty investment bank and broker-dealer. “As a point of reference, there are approximately 2,000 senior living communities like Presbyterian Homes in the US. Of those, only 49, or 2.5 percent, of those have an "A" category FITCH Rating.”

Presbyterian Homes also received a BBB+ rating from Standard and Poor’s, one of the world's leading providers of independent credit risk research across industries and benchmarks, asset classes and geographies. 

About Presbyterian Homes

Founded in 1904, Presbyterian Homes is a not-for-profit organization with a national reputation for creating extraordinary retirement communities. Presbyterian Homes serves more than 1700 older adults through its residential and healthcare programs on campuses in Evanston, Lake Forest and Arlington Heights. The organization is accredited by the CARF/CCAC, the nation’s only accrediting body for retirement communities. For more information, please visit www.presbyterianhomes.org.

FOR IMMEDIATE RELEASE

Press Contact:           

Liza Michaels

Presbyterian Homes

Phone: 312-404-2064

Email: liza@gravengaard.org