JKVJohn Knox Village (retirement community; Lee's Summit, MO)
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Radiating unusual charm, tall JKV was the cynosure of all eyes even when he walked on the roadside.
With its guidance, JKV established Harmony At Work, a committee of up to 20 associates representing a variety of roles and departments.
CONTINUED IMPROVEMENT IN ILU OCCUPANCY: Upward rating movement is likely if JKV sustains continued improvements in ILU occupancy and entrance fee generation pending further clarification on future capital plans.
Aligning with JKV is an important first step to solidifying TBC's financial resources and forming long-term relationships in the Chicago area," said Peter Bryant, president and CEO of TBC Consolidated Fuels.
Because the first sets of students and mentors were so suc-cessful in changing age biases, new students now look forward to the JKV experience.
The Stable Outlook reflects Fitch's belief that JKV will generate liquidity, operating and debt metrics consistent with results generated in fiscal 2011 and 2012.
Improved Focus on Sales: JKV management improved its sales marketing which led, in part, to entrance fee move-ins rising to 47 in fiscal 2011 from 27 in fiscal 2010.
JKV is a type-A CCRC and is the only CCRC within a five mile radius of its location in Pompano Beach, FL.
In operation for 25 years, JKV is one of the largest single site continuing care communities in the country with 1,568 independent living units (ILU), 90 residential care units (RCF), and a 430 bed skilled nursing facility (SNF).
Thus, sustaining the improved level of entrance fee receipts realized through the five-month interim period should allow JKV to fund its capital expenditures without weakening liquidity indicators.
In fiscal 2007 (year ending March 31), JKV posted a $4.
The rating downgrade on JKV to 'BBB+' from 'A-' reflects a financial profile that is more consistent with the 'BBB' category medians, the expected issuance of $68.