December 11, 2024 – Fitch Ratings has upgraded our rating for the HumanGood California Obligated Group and its 12 life plan communities to ‘A’ from ‘A-‘, with a stable outlook.
“This upgrade in rating for the California Obligated Group is representative of the dedication and commitment demonstrated by our team members, residents, family members and partners to the important work that we do, each and every day,” said John Cochrane, president and CEO, HumanGood. “We are proud to have our efforts recognized by Fitch Ratings as we continue to inspire the best life for everyone in the HumanGood family.”
The upgraded rating of ‘A’ reflects HumanGood’s improved balance sheet metrics and continued strong operating performance, according to Fitch.
“Fitch expects HGCOG to continue to capitalize on its economies of scale and centralized strategic resources to manage through industry-wide operating pressures,” Fitch stated in its report. Fitch also pointed to HumanGood's strong management practices around managing costs and maintaining high occupancy rates as additional factors for the ratings upgrade.
Click here to read the ratings report for HumanGood California Obligated Group and the ratings reports can also be viewed online at www.fitchratings.com.