Moody’s affirms Equity Residential ratings

Moody’s Investors Service said it affirmed all ratings for Equity Residential’s operating partnership, ERP Operating LP, at A3. It also affirmed the partnership’s P-2 rating for its commercial paper program, preferred stock and preferred stock shelf ratings at Baa1 and (P)Baa1.

“The A3 senior unsecured credit profile for ERP Operating Limited Partnership reflects the REIT's size and scale as the largest U.S. apartment REIT, its solid leverage metrics and healthy earnings from its premier class apartment portfolio. With a long operational history, EQR has demonstrated good financial resilience through various market cycles,” Moody’s said in a press release.

The outlook is stable.

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