MISSISSAUGA, ON, Nov.28, 2023 /CNW/ - Chartwell Retirement
Residences ("Chartwell") (TSX: CSH.UN) announced that today DBRS
has published an update of its credit rating of Chartwell to
BBB(low) Stable Trend.
"I am glad to see this recognition by DBRS of our progress in
accelerating occupancy and cash flow growth, the execution of
strategic portfolio optimization initiatives and improving credit
metrics," commented Vlad Volodarski,
Chartwell's Chief Executive Officer. "Our focus remains on
delivering exceptional experiences and quality care to our
residents, driving occupancy growth through innovative operating,
sales and marketing strategies, and enhancing the efficiency of our
management platform. I believe this focus, combined with the rapid
growth of the senior population, low new construction starts,
shortages of long-term care beds, and obsolescence of some of the
existing inventory will support continuing strong momentum in
occupancy growth in 2024."
ABOUT CHARTWELL
Chartwell is in the business of serving and caring for
Canada's seniors, committed to its
vision of Making People's Lives BETTER and to providing a happier,
healthier, and more fulfilling life experience for its residents.
Chartwell is an unincorporated, open-ended real estate trust
which indirectly owns and operates a complete range of seniors
housing communities, from independent living through to assisted
living and long term care. Chartwell is the largest operator
in Canada, serving over 25,000
residents in four provinces across the country. For
more information, visit www.chartwell.com.
For more information, please contact:
Chartwell Retirement Residences
Vlad Volodarski
Chief Executive Officer
Tel: (905) 501-4709
email: investorrelations@chartwell.com
SOURCE Chartwell Retirement Residences