Sienna Senior Living Inc. Announces DBRS Credit Rating Update

MARKHAM, Ontario, Aug. 23, 2024 (GLOBE NEWSWIRE) — Sienna Senior Living Inc. (“Sienna” or the “Company”) (TSX: SIA) announced the confirmation by Dominion Bond Rating Service (“DBRS”) of the Company’s 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 Nitin Jain, President and Chief Executive Officer. “This rating update not only reflects our track record of consistently delivering strong financial results, driven by the incredible efforts of our 12,500 team members, 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.”

About Sienna Senior Living

Sienna Senior Living Inc. (TSX:SIA) offers a full range of senior living options, including independent living, assisted living and memory care under its Aspira retirement brand, long-term care, and specialized programs and services. Sienna’s approximately 12,500 employees are passionate about cultivating happiness in daily life. For more information, please visit www.siennaliving.ca.

Forward-Looking Statements

Certain of the statements contained in this news release are forward-looking statements and are provided for the purpose of presenting information about management’s current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These statements generally use forward-looking words, such as “anticipate,” “continue,” “could,” “expect,” “may,” “will,” “estimate,” “believe,” “goals” or other similar words and are based on the Company’s expectations, estimates, forecasts and projections. These statements are subject to significant known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. The forward-looking statements in this news release are based on information currently available and what management currently believes are reasonable assumptions. The Company does not undertake any obligation to publicly update or revise any forward-looking statements except as may be required by applicable law.

FOR FURTHER INFORMATION, PLEASE CONTACT:

David Hung
Chief Financial Officer and Executive Vice President
(905) 489-0258
david.hung@siennaliving.ca

Nancy Webb
Senior Vice President, Public Affairs and Marketing
(905) 489-0788
nancy.webb@siennaliving.ca