Moody's: Associated Estates view stable

Moody's Investors Service said it affirmed the ratings of Associated Estates Realty Corp. and revised the outlook to stable from positive.

The stable outlook reflects the REIT's adequate liquidity, progress at reducing its Midwest concentrations and still positive operating performance, the agency said.

Moody's said it expects Associated's portfolio will face challenges ahead as the slowing economy and accelerating job losses will likely pressure multifamily fundamentals through at least 2009.

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