Lutheran Services for the Aging achieves BBB investment-grade rating: Senior services arm of Lutheran Services Carolinas has a stable rating outlook

SALISBURY — Lutheran Services for the Aging (LSA), the senior services affiliate of Lutheran Services Carolinas (LSC), has received a BBB investment-grade rating with a stable rating outlook from Fitch Ratings, a leading provider of credit ratings, commentary and research for global capital markets.

An investment-grade rating indicates that LSA is a low to moderate credit risk.

“We are ecstatic,” LSC President and CEO Ted W. Goins Jr. said. “For over 20 years, LSA has hoped to become rated, but our heavy emphasis on skilled nursing made that difficult. Thanks to strong board governance, conservative resource stewardship, strong financial performance, and the leadership of Chief Financial Officer Kirby Nickerson, we have now achieved this important milestone.”

LSC is a nonprofit organization that serves over 10,000 North and South Carolina residents, including children, families, seniors and refugees. LSA, which received the rating, serves approximately 2,500 seniors. It encompasses nine of the organization’s eleven senior living communities as well as several other programs, all located in North Carolina.

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