Fitch rating agency affirmed its issuer default and senior unsecured ratings on Camden Property Trust at A-, with a stable outlook.

The rating agency attributed the affirmation to the company's high-quality multifamily portfolio in the U.S. SunBelt region and select coastal markets, its low leverage and conservative financial-policy targets relative to peers.

Fitch assumes Camden's liquidity as strong, with a manageable debt-maturity schedule supported by a low dividend-payout ratio.