Vicar’s Landing receives ‘BBB’ bond rating from Fitch


Vicar's Landing has received a "BBB" Bond Rating from Fitch.

According to Fitch, Vicar's Landing has produced strong and stable operating results that are better than "BBB" median margins such as a 95 percent occupancy rate over the past four years and a 98 percent rate in 2016. There are more than 240 names on the community's current waitlist.

"Vicar's Landing is proud to remain one of an elite group of Florida-based CCRCs (Continuing Care Retirement Communities) to hold investment-grade debt,” said CFO Candy Bowling. “This has provided us with opportunities for favorable interest rates, which translates to lower cost increases for our residents. When Vicar's Landing determines the need to re-enter the public bond market for capital, this rating gives us the opportunity to save on our debt service. Our board and management are committed to maintaining the highest financial strength possible, and this is a crucial measure for us."

Vicar's Landing is managed by Life Care Pastoral Services. It consists of 227 independent units, 38 private assisted living units and 60 skilled nursing beds. The Skilled Nursing Center received its fifth Governor's Gold Seal Award in 2017.