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S&P affirms AvalonBay
Standard & Poor's said it affirmed AvalonBay Communities Inc.'s BBB+ corporate credit and senior unsecured debt ratings.
The outlook is stable.
"Our ratings on AVB reflect the company's sound balance sheet, with debt protection measures that are currently strong both in the aggregate and relative to those of AVB's apartment REIT peers," S&P analyst George Skoufis said in a statement.
"In addition, our ratings acknowledge a liquidity position that, in our estimation, is sufficient to meet the company's capital needs through at least 2010."
Offsetting these positive factors are weakening apartment fundamentals, the agency noted.
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