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Memphis, Tenn. — EdR has been assigned a Baa3 senior unsecured shelf rating with stable outlook by Moody’s Investors Service, and a “BBB-“ issue level rating to the unsecured notes issued by Education Realty Operating Partnership, LP, EdR’s operating subsidiary, from Standard & Poor’s Ratings Services.
“An investment grade rating is a significant milestone for our company, but more importantly it is a key advantage for future funding strategies,” said Randy Churchey, EdR’s president and chief executive officer. “It provides access to the investment grade unsecured debt market, and reflects the company’s strong business prospects and balance sheet management strategy.”