S&P affirms United Dominion

Standard & Poor's said it affirmed its BBB corporate credit ratings assigned to United Dominion Realty Trust Inc. and the REIT's operating partnership, United Dominion Realty LP.

At the same time, the BBB senior unsecured debt and BBB- preferred stock ratings on United Dominion are also affirmed.

The outlook remains stable.

The agency said that the ratings acknowledge a diversified, successfully repositioned portfolio of multifamily assets, which is producing good, stable cash flow.

This strength is somewhat offset by a moderately aggressive financial profile, although credit metrics remain acceptable for the ratings, S&P noted.

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