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Associated Estates Realty Corp. Upgraded To 'BB+' On Improved Credit Profile; Outlook Revised To Stable Sep 11
Standard & Poors, Sep 2011
Abstract
OVERVIEW Solid occupancy and moderate rent increases have contributed to improved operating performance, which has bolstered Associated's debt protection measures. Associated's portfolio quality has also improved following recent acquisitions. As a result, we raised our corporate credit rating on Associated to 'BB+' from 'BB' and revised our outlook to stable from positive. The stable outlook reflects our expectation that favorable operating conditions in the near to intermediate term will continue to support debt protection measures at or above current levels. NEW YORK (Standard & Poor's) Sept. 23, 2011--Standard & Poor's Ratings Services today raised its corporate credit rating on Associated Estates Realty Corp. (Associated) to 'BB+' from 'BB' on bolstered debt protection measures and improved portfolio quality. At the same...
Companies mentioned in this report are: Associated Estates Realty Corp.
Action: Outlook: Stable
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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