S&P ups Associated Estates outlook to positive

Standard & Poor's said it revised its outlook on Associated Estates Realty Corp. to positive from stable and affirmed its B+ corporate credit rating on the company.

Additionally, the agency said it affirmed all other Associated-related ratings.

"Our ratings on Associated acknowledge the company's improved portfolio composition, strengthened debt coverage metrics, and good coverage of all fixed obligations, including the common dividend," said credit analyst Linda Phelps.

"However, its expectations for some additional pressure on the company's operating metrics temper these strengths, given the currently very weak economic conditions and the potential for greater volatility given the REIT's comparatively small size."

© 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.