Fitch Ratings assigned a ‘BBB+‘ rating with a stable outlook for bonds issued on behalf of Southern California Presbyterian Homes (SCPH), known as be.group. Some of the key drivers for the rating included good occupancy at multiple campuses; strengthened liquidity; a moderate debt position; and soft operating profitability.
SCPH and American Baptist Homes of the West (ABHOW) affiliated as of May 1, 2016, and officially became HumanGood on July 10, 2017.
“Integration activities are progressing and a variety of benefits have already been achieved,” Fitch stated.
The Fitch ratings report is available here.
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