Moody's affirmed its issuer rating on Mid-America Apartment Communities Inc. unit Mid-America Apartments LP at Baa1, its senior unsecured rating at Baa1, and senior unsecured debt shelf rating at (P)Baa1.

The outlook on the unit remains stable.

The rating agency noted the company's strong liquidity position, thanks to the recently amended $1 billion revolving credit facility that matures in 2023.

Moody's attributed the affirmation to the real estate investment trust's deep multifamily platform in the U.S. Sunbelt markets, its experienced management team and its commitment to a conservative capital structure, among other factors.

The stable outlook reflects the rating agency's expectation that Mid-America will continue to maintain solid credit metrics and liquidity.