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Research Update: Leisureworld Senior Care L.P. 'A-' Senior Secured Debt Rating Affirmed On Strong Demand Fundamentals; Outlook Stable Feb 12 Product Image

Research Update: Leisureworld Senior Care L.P. 'A-' Senior Secured Debt Rating Affirmed On Strong Demand Fundamentals; Outlook Stable Feb 12

  • Published: February 2012
  • Standard & Poors

Abstract
We are affirming our 'A-' senior secured debt rating on Ontario-based Leisureworld Senior Care L.P. (LSCLP). In part, the ratings reflect our view of strong long-term demand fundamentals, LSCLP's strong average occupancy levels for the 26 long-term care homes in its portfolio, and what we view as adequate security interest for bondholders. The stable outlook reflects our expectation that the company's business risk and financial risk profiles will remain strong in the next two years, reflecting high occupancy rates, adequate debt service coverage ratios, and no considerable increase in leverage. On Feb. 10, 2012, Standard & Poor's Ratings Services affirmed its 'A-' senior secured debt rating on Ontario-based Leisureworld Senior Care L.P. (LSCLP). The outlook is stable. The ratings on...

Companies mentioned in this report are: Leisureworld Senior Care L.P.
Action: Affirmed
Action: Outlook: Stable

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Leisureworld Senior Care L.P.

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