In a press release dated April 5, Fitch Ratings affirmed the Messiah Lifeways ‘BBB-‘ rating on the following bonds issued on our behalf:
–$24,080,000 West Shore Area Authority Revenue Bonds (Messiah Village Project), Series A of 2015;
–$10,000,000 Cumberland County Municipal Authority Revenue Bonds (Messiah Village Project) Series A of 2008.
“This is great news,” stated CEO Curt Stutzman. “It’s good confirmation that we are remaining financially stable during the Project Envision expansion. I’m grateful for a solid team that manages our finances with great care.”
The bonds mentioned here are related to the first phase of Project Envision, a major Messiah Village campus expansion. Construction on three separate sites is now over 60% complete with some spaces expected to open in late July or early August. Village Square, the Hopewell personal care neighborhood, and the Engle and Greenwood private nursing neighborhoods are all expected to be fully operational by the fall of 2017.
To read the entire release, visit the Fitch Ratings website here.