Fairfax County Economic Development Authority, Virginia Greenspring Village Inc.; Long Term Care
Standard & Poors, September 2006
Abstract
Standard & Poor's Ratings Services assigned its 'BBB' rating to Fairfax County Economic Development Authority, Va.'s $35 million retirement community revenue refunding bonds, series 2006A, issued for Greenspring Village Inc. Standard & Poor's also affirmed its `BBB' rating on Greenspring Village's series 1999A and B bonds. The rating reflects Greenspring Village's: Strong continuing care retirement community product, highlighted by a very well-located, new, and attractive facility, driving excellent occupancy and a robust waiting list; Superb oversight and management provided by Erickson Retirement Communities, which owns and manages 17 senior-living communities with more than 14,000 residents; and Solid financial profile, featuring positive results from operations, strong debt service coverage, a modest debt burden, very young age of plant, and growing liquidity....
Companies mentioned in this report are: Greenspring Village, Inc.,Fairfax Cnty Econ Dev Auth
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Greenspring Village, Inc.,Fairfax Cnty Econ Dev Auth
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