Moody’s ups Camden Property Trust debt to A3

Moody's Investors Service said it upgraded Camden Property Trust's senior unsecured debt ratings to A3 from Baa1.

The outlook was revised to stable from positive.

Moody’s said the upgrade reflects its views that Camden has consistently delivered strong earnings growth while maintaining a sound financial strategy sustained by low leverage and strong fixed charge coverage.

The action also recognizes Camden's asset recycling efforts, resulting in a higher quality portfolio, and a successful development program, which continues to create significant long-term value for the company, the agency added.

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