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American Campus Communities Inc. Nov 11
Standard & Poors, Nov 2011
Abstract
Strong industry fundamentals and positive college enrollment trends that contribute to the stability of the company's net operating income; A well-located portfolio, with 80% of properties less than one mile from the university they serve; and A seasoned management team with a successful track record of delivering fully occupied, new development projects on schedule. Much of the company's outstanding debt is currently short term and secured, with an average term to maturity of 3.5 years; and A heavy reliance on floating-rate debt. Our ratings on American Campus Communities Inc. (ACC) reflect the company's satisfactory business profile, marked by favorable demand characteristics for student housing properties, a well-located portfolio, and a seasoned management team. The company's financial profile is intermediate, in...
Companies mentioned in this report are: American Campus Communities Inc.
Action: Review
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: Full Analysis
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