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American Campus Communities Achieves Investment Grade Rating

^{Published on 2011-10-25 10:12:38 - Market Wire}
 

AUSTIN, Texas--([ BUSINESS WIRE ])--American Campus Communities, Inc. (NYSE:ACC), the largest owner and manager of high-quality student housing properties in the U.S., today announced that the company was assigned a Baa3 Issuer Rating by Moodyas Investors Service, making American Campus the first company in the student housing industry to achieve an investment grade rating.

"Achieving an investment grade rating has been an important goal for the company since our IPO seven years ago and we believe represents an inflection point for ACC and the student housing industry"

According to the Moody's rating rationale, the Baa3 issuer rating reflects American Campusas size and experience, well-honed operating systems, strong relationships within the collegiate community and solid credit metrics, including low effective leverage and solid fixed charge coverage. In addition, the rating agency stated that student housing has demonstrated resistance to recessionary challenges experienced by many other sectors, and Moodyas expects continued growth in demand for private student housing. It also reflects Moody's expectation that American Campus will grow prudently while moving to reduce secured debt and further unencumber its balance sheet.

"Achieving an investment grade rating has been an important goal for the company since our IPO seven years ago and we believe represents an inflection point for ACC and the student housing industry,a commented Bill Bayless, American Campus CEO. aThis Baa3 rating from Moody's is an important first step for American Campus towards accessing the investment grade unsecured debt market, an important component of our future funding strategy that we believe will provide an unparalleled competitive advantage in our sector."

More information regarding American Campusas rating assignment can be found in the Moody's Investors Service press release dated October 25, 2011 on its website at [ www.moodys.com ].

About American Campus Communities

American Campus Communities, Inc. is the largest owner and manager of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management, and operational management of student housing properties. American Campus Communities owns 112 student housing properties containing approximately 69,200 beds. Including its owned, joint venture and third-party managed properties, ACC's total managed portfolio consists of 146 properties with approximately 94,000 beds. Visit [ www.americancampus.com ] or [ www.studenthousing.com ].

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates and projections about the industry and markets in which American Campus operates, management's beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.