Moody's affirms Aimco

Moody's Investors Service said it affirmed the Ba1 corporate family and Ba3 preferred ratings of Apartment Investment & Management Co.

The outlook remains stable.

The agency said the real estate investment trust's improved portfolio offsets its concerns with respect to weaker credit metrics.

The stable outlook reflects the REIT's ability to raise capital to fund near-term obligations as well as Moody's expectation that the company will maintain occupancies in the low to mid-90% range without significant impairments to cash flow, the agency said.

The net debt-to-EBITDA ratio was 9.3 times at the end of 2009.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.