Jefferson’s Ferry’s Robust Financials, High Occupancy Rates Earn an Upgraded BBB+ rating from Fitch Ratings

S. Setauket, NY…September 2025… Jefferson’s Ferry Life Plan Community recently received an important affirmation of its strong financial status when Fitch Ratings (Fitch) upgraded its annual rating for the third year in a row. The most recent Fitch report awarded Jefferson’s Ferry a BBB+ rating with a “Stable Outlook” as its positive performance fulfilled the expectation of last year’s solid BBB rating with a “Positive Outlook.”

“This upgrade underscores and affirms Jefferson’s Ferry’s ability to maintain healthy cash flow and robust liquidity, ensuring the organization continues to meet its commitments to residents, staff, and lenders,” said Jefferson’s Ferry President and Chief Executive Officer Bob Caulfield.

The 'BBB+' upgraded rating reflects the strength of Jefferson’s Ferry's financial profile demonstrated by its improved cash flow performance and balance sheet growth and with the successful occupancy of its 60 new independent living apartments. Likewise, Its new memory support neighborhood of 20 apartments, The Grove, is showing strong demand.

With consistently high occupancy levels and ongoing interest in its new residences, Jefferson’s Ferry generates steadily recurring revenues that further strengthen its financial foundation. This performance ensures that residents and their families can rely on both the exceptional quality of services today and financial security for the future, including the protection of entrance fee refunds.

The Fitch upgrade reflects not only the community’s success in executing a large-scale expansion but also its disciplined approach to balancing growth with financial responsibility. Jefferson’s Ferry’s strategic capital planning and careful stewardship of resources position the organization for continued strength and stability. As Jefferson’s Ferry enters the final phase of its large capital expansion and repositioning project, Journey Toward Renewal, Fitch expects further enhancement of its cash flow performance and balance sheet growth.

As we are on the cusp of the final stages of Journey Toward Renewal, we can look back on the challenges of such an extensive project while reaping the rewards of our efforts,” added Bob Caulfield. “Our number one goal remains providing the highest level of comfort, services, care, community and peace of mind to our residents. Journey Toward Renewal checks all those boxes. To attain an upgrade to a BBB+ rating is a powerful affirmation of all we’ve looked to achieve with this ambitious undertaking.”

Fitch’s credit ratings provide an opinion on the relative ability of an entity to meet financial commitments, such as interest, repayment of principal, insurance claims or counterparty obligations. Credit ratings are used by investors as indications of the likelihood of receiving the money owed to them in accordance with the terms on which they invested. The agency's credit ratings cover the global spectrum of corporate, sovereign (including supranational and sub-national), financial, bank, insurance, municipal and other public finance entities and the securities or other obligations they issue, as well as structured finance securities backed by receivables or other financial assets.

About Jefferson’s Ferry   www.jeffersonsferry.org

Jefferson’s Ferry is a not-for-profit Life Plan Community for active adults aged 62 and above, with Independent Living cottages and apartments, Assisted Living apartments, and a quality health care center all on one site.  A multi-million-dollar expansion and renovation project, “The Journey Toward Renewal,” has updated the life-enriching environment for residents at every stage of their life. Residents enjoy six distinct dining venues, an expansive Healthy Living Center and Fitness Center and a state-of-the-art Rehabilitation Therapy Center. Also new to Jefferson’s Ferry is “The Grove,” a Memory Support Neighborhood which provides a high quality of life and care for 20 residents diagnosed and living with Alzheimer’s and other dementia-related diseases.

Jefferson’s Ferry offers exceptional living and amenities, including indoor pool, computer center, library, creative arts center, game room, walking paths, resident gardens, monarch waystations, recreational areas, and gazebos.  A mix of cultural excursions, civic activities, and a community of residents who help shape Jefferson’s Ferry’s future ensure a spirited and engaged lifestyle.  

The Vincent Bove Health Center at Jefferson’s Ferry enjoys a 5-star rating from The Centers for Medicare and Medicaid Services (CMS) and was named a “Best Of” nursing home by U.S. News & World Report.  Jefferson’s Ferry has repeatedly earned the industrywide Community Choice Award for resident satisfaction and engagement and has been recognized with the Activated Insights Award (formerly known as Pinnacle Quality Insight’s Customer Experience Award) for seven years running. Fitch Ratings has assigned Jefferson’s Ferry a stable outlook BBB+ bond rating.  Jefferson’s Ferry has consistently been voted Best Retirement Community, Best Nursing Home and Best Assisted Living on Long Island by The Long Island Press and has been recognized for Excellence by the Hauppauge Industrial Association’s Business Achievement Awards program.  

For more information visit www.jeffersonsferry.org

‍