CLEVELAND, April 24 /PRNewswire-FirstCall/ -- Associated Estates Realty
Corporation (NYSE: AEC) announced today that Standard & Poor's has revised
its outlook for the Company to positive, from stable. At the same time, S&P
affirmed its B+ rating on the Company's corporate credit and its CCC+
rating on the Company's preferred stock.
"We're pleased S&P has acknowledged our efforts to enhance our
portfolio and strengthen our balance sheet," said Lou Fatica, Vice
President, Treasurer and CFO.
Associated Estates Realty Corporation (AEC) is a real estate investment
trust ("REIT") and is a member of the Russell 2000. The Company is
headquartered in Richmond Heights, Ohio. AEC's portfolio consists of 55
properties containing 13,547 units located in nine states. For more
information about the Company, please visit its website at
http://www.aecrealty.com .
For more information, please contact:
Michael Lawson
Vice President of Investor Relations
216-797-8798
mlawson@aecrealty.com
SOURCE Associated Estates Realty Corporation
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Related links:
http://www.aecrealty.com
CONTACT:
Michael Lawson, Vice President of Investor
Relations, Associated Estates Realty Corporation,
+1-216-797-8798, mlawson@aecrealty.com
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