S&P Global Ratings and Moody's Investors Service affirmed their ratings on American Homes 4 Rent.
S&P affirmed its BBB- corporate credit rating and Moody's affirmed its Baa3 issuer rating.
The outlook from both rating agencies is stable.
S&P said it expects the company's credit measures to improve by the end of 2018 despite a more aggressive acquisition strategy. The improvement will result from earnings growth from pricing gains on newly signed leases and the expansion of the company's platform through a planned $1.2 billion acquisition program and future equity issuance to partly fund the acquisitions.
Moody's said its rating reflects the company's significant scale in the single-family rental market and solid rental rate growth in the 3-4% range as its fundamentals remain strong. Moody's also noted the company's improved credit metrics including lower leverage and higher fixed charge coverage.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.
