Moody's: American Campus notes Baa3

Moody's Investors Service said it assigned a Baa3 senior unsecured rating to American Campus Communities Operating Partnership LP's $300 million notes and revised the outlook to positive from stable.

The agency also affirmed American Campus Communities, Inc.'s issuer rating at Baa3.

"ACC has delivered on its goal to strengthen its balance sheet by increasing the level of unencumbered assets while reducing secured debt," Moody's vice president Chris Wimmer said in a news release. "They have accomplished this while increasing in size and simultaneously improving key metrics, such as fixed charge coverage and effective leverage."

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