Moody's ups Associated Estates Realty

Moody's Investors Service said it raised Associated Estates Realty Corp.'s senior unsecured debt shelf rating to provisional Ba3.

The outlook was revised to positive from stable.

The actions reflect the company's resilient operating performance, Moody's said, and progress in executing its portfolio repositioning efforts.

The rating also considers its credit metric improvements with reduced overall book leverage and improved fixed-charge coverage as a result of recent common equity issuances, the agency said.

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