Fitch Ratings-New York has upgraded Immanuel’s credit rating from ‘A-‘ to ‘AA-‘ with a Rating Outlook of Stable. The upgrade in ratings reflects a material increase in Immanuel’s cash and unrestricted investments. Immanuel’s rating is currently the second highest rating of all similar organizations rated by Fitch. Through an agreement signed in 1996, Immanuel and Catholic Health Initiatives (CHI) had been co-members of Alegent Creighton Health (ACH), which is the largest not-for-profit, faith-based healthcare provider in Nebraska and southwest Iowa. In late 2012, Immanuel resigned its 50% membership with Ach resulting in additional liquidity. The Stable Outlook reflects Fitch’s belief that Immanuel’s liquidity will remain very strong even as it pursues its new initiatives. The Outlook also assumes the other underlying strengths of Immanuel high occupancy and solid Obligated Group financial results and debt coverage will remain in line with historical figures.
Immanuel is the parent company to Immanuel Communities, Immanuel Pathways, AgeWell by Immanuel and Lifeline by Immanuel. Immanuel owns and operates seven independent and assisted living retirement communities on five campuses in Omaha, Papillion and Lincoln, NE and the Immanuel Pathways PACE Centers in Council Bluffs, IA and Omaha, NE. At Immanuel, we believe there’s nothing in life more rewarding than helping others live theirs to the fullest. For more information about Immanuel, visit www.immanuelcommunities.com.