04:11 PM EDT, 08/23/2024 (MT Newswires) -- Dominion Bond Rating Service (DBRS) on Friday confirmed Sienna Senior Living's ( LWSCF ) BBB Issuer Rating and ratings on the Senior Unsecured Debentures, as well as the strengthening of the trends of these ratings to "Stable" from "Negative".

"We are pleased with the strengthening trend of our credit ratings, which will further enhance our ability to access capital at attractive terms," said President and CEO Nitin Jain. "This rating update not only reflects our track record of consistently delivering strong financial results... but also highlights the effectiveness of our initiatives to improve our operating platforms, and is further supported by the favourable demographics in Canadian senior living."

Sierra shares closed up $0.18 to $15.25 on the Toronto Stock Exchange.