Moody's affirmed the ratings of American Campus Communities Inc. and American Campus Communities OP PRS LP and retained the outlook at stable.
Among the ratings affirmed were American Campus' long-term issuer rating at Baa2 and preferred shelf rating at (P)Baa3, as well as the operating partnership's senior unsecured rating at Baa2, senior unsecured shelf rating at (P)Baa2, subordinate shelf rating at (P)Baa3 and junior subordinate shelf rating at (P)Baa3.
Moody's said the ratings reflect American Campus' status as the largest and only public real estate investment trust focused on purpose-built student housing in the U.S.
The stable outlook reflects the rating agency's expectation that the REIT will maintain a disciplined approach in executing its growth and funding strategy while lowering leverage. Moody's also expects the company to maintain its current liquidity profile and financial flexibility.
