Fitch Ratings Upgrades Lenbrook Investment Grade Rating to BBB+ with a Stable Outlook
Fitch Ratings, which provides credit ratings, commentary and research on public companies, has upgraded Lenbrook’s investment grade rating to “BBB+” with a Stable Outlook. Fitch noted that the upgrade reflects Lenbrook’s sustained operational improvement, moderating debt burden and growth in unrestricted cash and investments. Lenbrook’s completion of the Kingsboro expansion in 2021 and high occupancy contributed to operational improvement.
The Stable Outlook reflects Fitch’s expectation that Lenbrook can maintain its financial profile assessment through Fitch’s stress scenario. Fitch also noted that Lenbrook completed its strategic planning process and does not currently require additional debt in the Outlook period.
“In issuing this upgrade, Fitch Ratings is recognizing our ongoing commitment to providing exceptional services and maintaining a sound financial foundation while also positioning the organization for long-term success,” said Leslie Dove, Lenbrook’s Chief Financial Officer. “Since 2016, we have consistently earned an investment-grade rating, and this latest upgrade to BBB+ underscores Fitch’s confidence in our financial discipline, strong occupancy and strategic growth planning process.”
Fitch Ratings maintains public ratings on 162 Life Plan Communities (LPCs). The 2025 medians included 161 LPCs, comprising 116 investment grade and 45 below investment grade providers. The median rating is ‘BBB’, which accounts for just over half the portfolio. Lenbrook’s “BBB+” rating puts it in the top six percent of the over 2,000 LPCs in the United States.