Fitch Ratings affirmed its issuer default ratings of Mid-America Apartment Communities Inc. and Mid-America Apartments L.P. at BBB+.
The outlook is stable.
The rating agency noted the company's strong leverage and stable property fundamentals. Mid-America Apartment's leverage has declined since its acquisition of Post Properties Inc. in 2016.
Fitch also positively noted the multifamily real estate investment trust's conservative approach to launching new developments and expects its development pipeline to remain selective in upcoming years.