S&P cuts Oak Crest Village, Md., bonds to stable

Standard & Poor's said it revised its outlook to stable from positive on Baltimore County, Md.'s $67.03 million of series 2007A revenue refunding bonds issued for Oak Crest Village Inc., Md.

In addition, S&P said it affirmed its BBB+ rating on the bonds.

The outlook revision reflects recent diminished operating performance leading to the conclusion that the rating is not likely to be raised in the near term, although overall credit factors remain sound and consistent with the rating level, the agency said. The agency noted that the BBB+ rating reflects Oak Crest Village's favorable location and its attractive and relatively young continuing-care retirement community product, which is showing signs of its first cycle of higher turnover.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.