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Moody's: American Campus Baa3
Moody's Investors Service said it assigned a first-time Baa3 issuer rating to American Campus Communities, Inc.
The outlook is stable.
The stable outlook reflects an expectation that the company will grow prudently while moving to reduce secured debt and further un-encumber its balance sheet, Moody's said.
The agency said the company maintains leverage that is among the lowest and fixed-charge coverage that is among the highest of its peers.
The company is relatively well capitalized and experienced in a highly fragmented sector that is growing and has proven to be somewhat recession resistant, Moody's added.
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