ZIEGLER RESEARCH ZIEGLER RESEARCH SPECIAL REPORT

Transcription

1 SPECIAL REPORT CONTINUING DISCLOSURE CALL SCHEDULE Mike Vitiello Senior Analyst, Municipal Dated: January 5, 2018 In this weekly Special Report, we provide a schedule of all future Ziegler -sponsored continuing disclosure calls (along with the necessary dial-in information). We also provide a listing of all calls that occurred in the past 30 days for which recordings are available with information on how to access the recording. The frequency of calls with any individual borrower is adjusted as necessary, but is typically quarterly. As can be seen by the listing, we have over 100 obligor borrowers participating in the program. At no cost to the participants, Ziegler sponsors and moderates these calls to foster communication and information flow within the investor community. Generally, the purpose of these calls is to enable borrowers in the program to elaborate on and offer additional color and perspective about basic information that has been disseminated to the securities market via Electronic Municipal Market Access (EMMA). Conducting investor-oriented continuing disclosure conference calls is one of Ziegler s Top Ten Recommended Best Practices for Continuing Disclosure by Not-for-profit Providers. The disclosure call program is voluntary for both the borrowers and Ziegler. Please refer to important analyst s certification and disclosure at the end of this Special Report. Past performance is no guarantee of future results. This Special Report does not constitute a solicitation or an offer to purchase or sell any type of security described herein. B.C. Ziegler and Company Member SIPC & FINRA

2 Ziegler -Sponsored Analysts: Cesar Chavez Academy (CO) MV 8-Dec-17 12ET/11CT/10MT # Southminster (NC) MV 8-Dec-17 1ET/12CT # Inner City Education Foundation (CA) MV 8-Dec-17 1ET/12CT/10PT # Mary's Woods (OR) MV 8-Dec-17 2ET/1CT/11PT # Brazos Presbyterian Homes (TX) RG 11-Dec-17 12ET /11CT Canceled Bayview Retirement Community (WA) RG 11-Dec-17 3ET/2CT/12PT # Las Ventanas (NV) MV 11-Dec-17 4ET/3CT/1PT # Presbyterian Homes Obligated Group (IL) RG 12-Dec-17 1ET/12CT # Intrinsic Charter School (IL) MV 12-Dec-17 2ET/1CT # Lutheran Home & Services for the Aged (IL) RG 12-Dec-17 3ET/2CT # Seabury (CT) RG 13-Dec-17 11ET/10CT # Vista School (UT) RG 13-Dec-17 12ET/11CT/10MT # Cornerstone Village (TN) RG 13-Dec-17 2ET/1CT Rescheduled Montereau, Inc. (OK) RG 13-Dec-17 4ET/3CT # Trezevant Manor (TN) MV 14-Dec-17 1ET/12CT # East Ridge at Cutler Bay (FL) RG 14-Dec-17 2ET/1CT # Academy (SC) MV 14-Dec-17 4ET/3CT Rescheduled The Langford (TX) MV 19-Dec-17 11ET/10CT # Casey's Pond (CO) MV 19-Dec-17 1ET/12CT/11MT # Terraces of Boise (ID) MV 19-Dec-17 2ET/1CT/11PT # Epworth Villa (TN) RG 19-Dec-17 2:30ET/1:30CT # MRC The Crossings (TX) MV 19-Dec-17 3ET/2CT # Heron's Key (WA) MV 19-Dec-17 4ET/3CT/1PT # Cornerstone Village (TN) RG 20-Dec-17 2ET/1CT Canceled Brazos Presbyterian Homes (TX) RG 21-Dec-17 3ET /2CT # Redstone Village (AL) RG 8-Jan-18 3ET/2CT # Pending Rosedale Green (KY) RG 11-Jan-18 3ET/2CT # Pending Cornerstone Village (TN) RG 11-Jan-18 4ET/3CT # Pending Rose Villa (OR) RG 12-Jan-18 11ET/10CT/8PT # Pending Friendsview Retirement Community (OR) RG 12-Jan-18 2ET/1CT/11PT # Pending Ventana by Buckner (TX) RG 16-Jan-18 2ET/1CT # Pending Baptist Life Communities (KY) RG 17-Jan-18 12ET/11CT # Pending Immanuel Lutheran (MT) MV 22-Jan-18 2ET/1CT/12MT # Pending Casey's Pond (CO) MV 23-Jan-18 1ET/12CT/11MT # Pending Terraces of Boise (ID) MV 23-Jan-18 2ET/1CT/11PT # Pending Rockwood Retirement Communities (WA) RG 23-Jan-18 3ET/2CT/12PT # Pending Christian Care Centers (TX) RG 24-Jan-18 3ET/2CT # Pending St. Therese of Woodbury (MN) RG 25-Jan-18 4ET/3CT # Pending Noble Network of Charter Schools (IL) RG 29-Jan-18 2:30ET/1:30CT # Pending Academy (SC) MV 30-Jan-18 1:30ET/12:30CT # Pending The Langford (TX) MV 12-Feb-18 11ET/10CT # Pending Concordia Life Care Community (OK) LC 13-Feb-18 11ET/10CT # Pending Country Manor Campus (MN) RG 13-Feb-18 12ET/11CT # Pending Arlington of Naples (FL) RG 14-Feb-18 11ET/10CT # Pending Page 2 of 5

3 Ziegler -Sponsored Analysts: Friendship Village of Tempe (AZ) RG 15-Feb-18 12ET/11CT/9AZ(LT) # Pending RiverMead (NH) RG 15-Feb-18 1ET/12CT # Pending Stayton at Museum Way (TX) RG 16-Feb-18 11ET/10CT # Pending Crestview Retirement Community (TX) MV 20-Feb-18 11ET/10CT # Pending Sunny Vista Living Center (CO) MV 20-Feb-18 12ET/11CT/10MT # Pending Clare Oaks (IL) MV 20-Feb-18 2ET/1CT # Pending Glencroft (AZ) MV 20-Feb-18 3ET/2CT/1MT # Pending Buckingham Senior Living Community (TX) RG 20-Feb-18 4ET/3CT # Pending Woodlands at Furman (SC) MV 21-Feb-18 11ET/10CT # Pending Lakeview Village (KS) RG 21-Feb-18 12ET/11CT # Pending Eliza Jennings Senior Care Network (OH) RG 21-Feb-18 1ET/12CT # Pending Spring Harbor at Green Island (GA) RG 21-Feb-18 2ET/1CT # Pending Montgomery Place (IL) RG 21-Feb-18 3ET/2CT # Pending Wittenberg Lutheran Village (IN) RG 22-Feb-18 11ET/10CT # Pending The Barrington of Carmel (IN) RG 22-Feb-18 12ET/11CT # Pending Sierra Winds (AZ) RG 22-Feb-18 1ET/12CT/11AZ(LT) # Pending Aberdeen Heights (MO) MV 22-Feb-18 2ET/1CT Rescheduled Admiral at the Lake (IL) LC 22-Feb-18 2ET/1CT Rescheduled Querencia (TX) RG 22-Feb-18 3ET/2CT # Pending Village at Germantown (TN) RG 22-Feb-18 4ET/3CT # Pending Edgemere (TX) RG 23-Feb-18 10ET/9CT # Pending Aberdeen Heights (MO) MV 23-Feb-18 2ET/1CT # Pending Mirador (TX) RG 23-Feb-18 3ET/2CT # Pending Westminster Terre Haute (IN) MV 26-Feb-18 3ET/2CT # Pending St. James Place (LA) MV 27-Feb-18 12ET/11CT # Pending Terraces at San Joaquin Gardens (CA) MV 27-Feb-18 2ET/1CT/11PT # Pending Duncaster, Inc. (CT) RG 28-Feb-18 9ET/8CT # Pending Peace Village (IL) RG 28-Feb-18 10ET/9CT # Pending Canterbury on the Lake (MI) MV 28-Feb-18 11ET/10CT # Pending Pleasant View Luther Home (IL) RG 28-Feb-18 12ET/11CT # Pending Valley Vista (ID) MV 1-Mar-18 3ET/2CT/12PT # Pending John Knox Village (MO) RG 2-Mar-18 3:30ET/2:30CT # Pending Blue Skies of Texas (TX) RG 5-Mar-18 12ET/11CT # Pending Lutheran Senior Services (MO) RG 5-Mar-18 2ET/1CT # Pending Christwood (LA) MV 5-Mar-18 3ET/2CT # Pending Nazareth Living Center (MO) RG 6-Mar-18 11ET/10CT # Pending Plymouth Place (IL) MV 6-Mar-18 12ET/11CT # Pending Presbyterian Retirement Communities Northwest (WA) MV 6-Mar-18 2ET/1CT/11PT # Pending MRC The Crossings (TX) MV 6-Mar-18 3ET/2CT # Pending Episcopal Communities & Services (CA) JD 6-Mar-18 4ET/3CT/1PT # Pending Seabury (CT) RG 7-Mar-18 11ET/10CT # Pending MonteCedro Inc. (CA) JD 7-Mar-18 3ET/2CT/12PT # Pending Capital Manor (OR) MV 7-Mar-18 4ET/3CT/1PT # Pending Terwilliger Plaza (OR) RG 8-Mar-18 1ET/12CT/10PT # Pending Page 3 of 5

4 Ziegler -Sponsored Analysts: Trezevant Manor (TN) MV 8-Mar-18 1ET/12CT # Pending HumanGood (fka be.group) (CA) RG 8-Mar-18 3CT/1PT # Pending C.C. Young (TX) MV 9-Mar-18 1ET/12CT # Pending Mary's Woods (OR) MV 9-Mar-18 2ET/1CT/11PT # Pending Bayview Retirement Community (WA) RG 12-Mar-18 2ET/1CT/11PT # Pending Las Ventanas (NV) MV 12-Mar-18 4ET/3CT/1PT # Pending Three Crowns Park (IL) MV 13-Mar-18 1ET/12CT # Pending St. Luke's Hospital of Duluth (MN) MV 14-Mar-18 10ET/9CT # Pending Village at Gainesville (FL) RG 15-Mar-18 1ET/12CT # Pending Terraces at Bonita Springs (FL) RG 15-Mar-18 2ET/1CT # Pending East Ridge at Cutler Bay (FL) RG 15-Mar-18 3ET/2CT # Pending Village on the Isle (FL) RG 20-Mar-18 11ET/10CT # Pending Asbury Place (TN) MV 20-Mar-18 12ET/11CT # Pending Asbury Communities (MD & PA) MV 20-Mar-18 1ET/12CT # Pending Inverness Village (OK) MV 20-Mar-18 2ET/1CT # Pending Lutheran Home & Services for the Aged (IL) RG 20-Mar-18 3ET/2CT # Pending Vista School (UT) RG 28-Mar-18 12ET/11CT/10MT # Pending Kahala Nui (HI) RG 16-May-18 3ET/2CT/9HT # Pending Episcopal Senior Communities (CA) RG 18-May-18 12ET/11CT/9PT # Pending Pennybyrn at Maryfield (NC) MV 22-May-18 1ET/12CT # Pending Covenant Woods (VA) RG 22-May-18 3ET/2CT # Pending Methodist Homes of Alabama and Northwest Florida (AL) MV 23-May-18 1ET/12CT # Pending Admiral at the Lake (IL) LC 23-May-18 4ET/3CT # Pending Lutheran Homes of South Carolina (SC) RG 4-Jun-18 1ET/12CT # Pending Christian Living Communities (CO) MV 4-Jun-18 3ET/2CT/1MT # Pending Wesleyan Homes (TX) RG 5-Jun-18 11ET/10CT # Pending Terraces at Bonita Springs (FL) RG 7-Jun-18 2ET/1CT # Pending Village at Gainesville (FL) RG 7-Jun-18 3ET/2CT # Pending East Ridge at Cutler Bay (FL) RG 14-Jun-18 2ET/1CT # Pending Brazos Presbyterian Homes (TX) RG 29-Aug-18 12ET /11CT # Pending Terraces at Bonita Springs (FL) RG 6-Sep-18 2ET/1CT # Pending Village at Gainesville (FL) RG 6-Sep-18 3ET/2CT # Pending East Ridge at Cutler Bay (FL) RG 20-Sep-18 2ET/1CT # Pending Messiah Lifeways (PA) RG 26-Sep-18 3ET/2CT # Pending Greencroft Obligated Group (IN) RG 8-Nov-18 10ET/9CT # Pending Pepin Academy (FL) MV 29-Nov-18 12ET/11CT # Pending Christian Horizons, Inc. (IL) RG 5-Dec-18 3ET/2CT # Pending Calibre Academy (fka Carden Traditional School of Surprise) (AZ) MV 5-Dec-18 4ET/3CT/2MT # Pending Intrinsic Charter School (IL) MV 11-Dec-18 2ET/1CT # Pending Montereau, Inc. (OK) RG 12-Dec-18 4ET/3CT # Pending East Ridge at Cutler Bay (FL) RG 13-Dec-18 2ET/1CT # Pending Terraces at Bonita Springs (FL) RG 13-Dec-18 3ET/2CT # Pending Village at Gainesville (FL) RG 13-Dec-18 1ET/12CT # Pending Page 4 of 5

5 Ziegler is an assembly of financial and credit analysts committed to providing investors with research on a selected sub-set of securities consisting of Ziegler-underwritten municipal bonds issued to finance senior living and hospital capital projects, as well as the education and housing sectors. Ziegler is separate from Ziegler s investment banking and capital markets businesses. The analysts rely only on publicly available information to generate opinions and reports. The team s published research carries an analyst certification as to the objectivity of the opinions rendered. Analyst-certified research reports are accessible through Ziegler.com (a limited access, semi-public website), or through a Ziegler financial advisor. ABOUT THE AUTHOR Mike Vitiello joined the research team at Ziegler in April of He is primarily responsible for monitoring a portfolio of Ziegler and non-ziegler underwritten senior living, healthcare and education credits. Mike is responsible for authoring borrower-specific credit research reports, commenting on each borrower s financial condition and highlighting any significant changes for the benefit of investors and Ziegler s internal business groups. His responsibilities also include the Ziegler annual CCRC Financial Ratio Median Analysis and the Default Study, as well as maintaining certain aspects of the. Mike received a B.S.B.A. from Boston University in 2009, and holds Series 7 and 52 licenses from FINRA, and belongs to several healthcare and municipal bondrelated organizations. ANALYSTS CERTIFICATION I, Mike Vitiello, hereby certify that the views expressed in this research report accurately refl ect my personal views about the subject securities, issuers and borrowers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specifi c recommendation or view expressed in this research report. The opinions expressed here refl ect my judgment and are subject to change. This is not a complete analysis of every material fact regarding any company, industry or security. Information has been obtained from sources considered reliable, but Ziegler cannot guarantee the accuracy. Additional information is available upon request. Other departments of Ziegler may have information, which is not available to Ziegler, about companies mentioned in the report. Ziegler may execute transactions in the securities mentioned in the report, which may not be consistent with the report conclusions. Past performance should not be taken as an indication or guarantee of future performance. Ziegler may perform investment banking or other services for, or solicit investment banking business from, any company mentioned in this report. This document may not be reprinted without permission. ASSOCIATES Edward Merrigan Managing Director Municipal emerrigan@ziegler.com Lavinia Criswell Director Municipal lcriswell@ziegler.com Rebecca Greive AVP Municipal rgreive@ziegler.com Mike Vitiello Senior Analyst Municipal mvitiello@ziegler.com Victoria Neitzel Senior Website Administrator Municipal vneitzel@ziegler.com Jill Kuehn Assistant Municipal jkuehn@ziegler.com 140 East 45th Street New York, NY ZIEGLER