S&P affirms Aimco

Standard & Poor's said it affirmed the ratings of Apartment Investment and Management Co. (Aimco) and its operating partnership, Aimco Properties LP, including the BB+ corporate credit rating and the B+ rating on its preferred securities.

The outlook remains negative.

The ratings reflects the company's significant financial profile, notably higher-than-average leverage and weak fixed-charge coverage, S&P said.

The company's aggressive asset recycling has been dilutive to cash flow and contributed to the weaker fixed-charge coverage, the agency said. But, the portfolio quality has improved, S&P added.

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