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S&P, Moody's affirm American Homes 4 Rent ratings

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.