Moody's ups Associated Estates to positive

Moody's Investors Service said it affirmed Associated Estates' (P)Ba1 senior unsecured debt shelf rating and (P)Ba3 preferred stock shelf rating.

The outlook was revised to positive from stable.

The agency said the positive outlook reflects the multifamily REIT's prospects for continued strong operating performance, with a concurrent improvement in key credit metrics, and Moody's expectation that it will further increase the size of its unencumbered asset pool.

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