Kendal on Hudson, a Life Plan Community located on the Hudson River in the scenic lower Hudson Valley, continues to demonstrate its strong financial management. Fitch Ratings has affirmed Kendal on Hudson’s Issuer Default Rating (IDR) at ‘BBB+’ and revised its outlook to Positive from Stable. This recognition reflects the community’s commitment to financial excellence, robust operating performance and strong market presence.
“Kendal on Hudson is committed to unwavering financial excellence and prudent management of our resources. It’s refreshing to see recognition for these efforts, which directly benefit residents and reinforce our mission of providing exceptional senior living,” said , CEO of Kendal on Hudson.
What This Rating Means for Kendal on Hudson
- Strong Market Position: Kendal on Hudson occupies a unique spot as Westchester County’s only Type A Life Plan Community, offering independent living, assisted living, memory support and skilled nursing services. Its location overlooking the Hudson River and near an 80-acre state park further enhances its appeal.
- Consistent Occupancy Growth: With independent living unit (ILU) occupancy in excess of 94% since 2019, Kendal on Hudson has demonstrated its ability to attract and retain residents.
- Financial Strength: The community’s robust revenue performance has enabled significant debt service savings, improved cash flow, and increased unrestricted cash and investments to $95.5 million as of year-end 2024.
Investing in the Future
This recognition comes as Kendal on Hudson prepares to break ground on a $32 million capital improvement project in June 2025, designed to renovate common areas and further solidify its competitive market position. Supported by a $20 million private placement bond issuance and a $12 million equity contribution, this strategic refresh ensures continuous alignment with residents’ evolving expectations while maintaining affordability and high-quality service.
To learn more about Kendal on Hudson, visit kohud.kendal.org or call 914-922-1000.
