S&P rates American Campus

Standard & Poor's said it assigned its BBB- corporate credit rating to American Campus Communities Inc. The outlook is stable.

"Our ratings on ACC reflect the company's satisfactory business profile, marked by favorable demand characteristics for student housing properties, a well-located portfolio, and a seasoned management team," said S&P credit analyst Matthew Lynam in a news release. "The company's financial profile is intermediate, in our opinion, given the company's low leverage, strong coverage measures when compared with similarly rated peers, and adequate liquidity."

The stable outlook on ACC reflects S&P's view that the company's portfolio will experience stable and steady growth due to favorable demand characteristics for its well-located properties and management's track record of delivering fully occupied, new development projects on time, the agency said.

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