NEW YORK: Fitch Ratings has affirmed the ‘BBB+’ rating on American Baptist Homes of the West’s (ABHOW) outstanding debt.
The Rating Outlook is revised to Stable from Negative.
The revision in the Rating Outlook to Stable from Negative reflects ABHOW’s improved liquidity and debt service coverage in 2014, although operating performance was still behind budget due to lower skilled nursing revenue partially caused by the one-year delay of the Terraces of Los Altos (TLA) repositioning project…