Lifespace Communities Inc., which owns Deerfield Retirement Community in Urbandale, has received an “A” rating from Fitch Ratings Ltd. on a tax-exempt bond offering of more than $30 million, the Urbandale-based not-for-profit company announced last week.

The investment-grade rating on the Nov. 18 bond offering will allow Lifespace Communities to raise capital more easily, with lower financing and debt costs, said Larry Smith, the company’s chief financial officer.

“An ‘A’ rating from one of the nation’s major rating agencies is a significant achievement,” Smith said in a press release. “At a time when some continuing care retirement communities across the country are struggling financially, our ‘A’ rating is an important indicator of our financial strength and stability.”

According to Fitch, the rating reflects Lifespace Communities’ low level of debt and strong debt-service coverage, capital spending and revenues. It’s also based on the geographical diversity of the company’s 11 senior-living communities, which are located in Florida, Illinois, Iowa, Kansas, Nebraska and Pennsylvania.

The proceeds of the offering will be used in part to pay for improvements to the senior living communities, including remodeling to provide more private rooms, adding alternative dining venues and funding wellness programs.

According to figures from Ziegler Capital Markets Group, Lifespace Communities is one of 58 multi-site retirement care organizations rated by Fitch, Standard & Poor’s and Moody’s Investors Service, and one of just three to earn an “A” rating.