CLEVELAND, July 23 /PRNewswire-FirstCall/ -- Associated Estates Realty
Corporation (NYSE: AEC) announced today that Moody's Investors Service has
revised its rating outlook for the Company to positive, from stable. At the
same time, Moody's affirmed the ratings on the Company's senior unsecured
debt shelf rating at (P)B1).
"We are very pleased that Moody's has acknowledged our ability to
strengthen our operating performance, reduce our leverage and enhance our
financial flexibility," said Lou Fatica, vice president, treasurer and CFO.
Associated Estates Realty Corporation is a real estate investment trust
("REIT") and is a member of the Russell 2000. The Company, headquartered in
Richmond Heights, Ohio, directly or indirectly owns, manages or is a joint
venture partner in 99 properties containing a total of 19,969 units located
in 10 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 and Corporate Communications
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 and Corporate Communications of Associated Estates
Realty Corporation, +1-216-797-8798, mlawson@aecrealty.com
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