American Campus Communities Corporate Credit Rating Upgraded by S&P to BBB
February 10 2016 - 9:05AM
Business Wire
American Campus Communities, Inc. (NYSE:ACC), the largest
owner, manager and developer of high-quality student housing
properties in the U.S., today announced that on February 8, 2016,
Standard & Poor’s Ratings Services (“S&P”) upgraded its
corporate credit rating on the company from BBB- to BBB.
In its report, S&P noted “We are raising our corporate
credit rating on ACC to ‘BBB’, based on the recent deleveraging and
strong recent operating performance.” Further, the report states
that ACC’s “outlook is stable” and “reflects our view that ACC will
achieve modest growth in its same-store portfolio while delivering
fully occupied new development projects currently in process.”
About American Campus Communities
American Campus Communities, Inc. is the largest owner, manager
and developer of high-quality student housing communities in the
United States. The company is a fully integrated, self-managed and
self-administered equity real estate investment trust (REIT) with
expertise in the design, finance, development, construction
management and operational management of student housing
properties. As of September 30, 2015, American Campus Communities
owned 158 student housing properties containing approximately
96,300 beds. Including its owned and third-party managed
properties, ACC's total managed portfolio consisted of 197
properties with approximately 125,800 beds. Visit
www.americancampus.com.
Forward-Looking Statements
In addition to historical information, this press release
contains forward-looking statements under the federal securities
law. These statements are based on current expectations, estimates
and projections about the industry and markets in which American
Campus operates management's beliefs, and assumptions made by
management. Forward-looking statements are not guarantees of future
performance and involve certain risks and uncertainties, which are
difficult to predict.
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American Campus Communities, Inc.Ryan Dennison,
512-732-1000Investor Relations
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