American Homes 4 Rent Announces S&P Global Ratings Upgrade to 'BBB' With Stable Outlook
American Homes 4 Rent (NYSE: AMH) received an upgrade in its corporate credit rating from S&P Global Ratings, moving from BBB- to BBB, with a stable outlook.
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Rhea-AI Summary
American Homes 4 Rent (NYSE: AMH) received an upgrade in its corporate credit rating from S&P Global Ratings, moving from BBB- to BBB, with a stable outlook. The upgrade reflects the company's strong operational performance, ongoing demand in single-family rentals, and its adherence to solid financial policies. CFO Christopher C. Lau emphasized the importance of prudent balance sheet management in achieving this recognition. As of March 31, 2022, the company owned 57,984 single-family properties across 22 states.
Positive
- Upgrade of corporate credit rating from BBB- to BBB by S&P Global Ratings.
- Stable outlook indicating confidence in the company's financial health.
- Strong operational performance and resilience in single-family rental demand.
Negative
- None.
Details
News Market Reaction – AMH
The recorded move for AMH in the trading session of this news was -0.03%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
CALABASAS, Calif., June 29, 2022 /PRNewswire/ -- American Homes 4 Rent (NYSE: AMH) (the "Company"), a leading provider of high-quality single-family homes for rent, today announced that S&P Global Ratings (S&P) recently upgraded the company's corporate credit rating to BBB from BBB-. The rating outlook is stable. American Homes 4 Rent's track record of strong operating results, persistent single-family rental demand tailwinds, and the company's commitment to its financial policies were all cited as key factors in the upgrade.
"Prudent balance sheet management has been a foundational cornerstone of American Homes 4 Rent," said Christopher C. Lau, Chief Financial Officer at American Homes 4 Rent. "We are pleased that S&P has recognized the continual improvement of our credit profile, as balance sheet strength and flexibility continue to remain top strategic priorities."
About American Homes 4 Rent
American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and "American Homes 4 Rent" is a nationally recognized brand for rental homes, known for high-quality, good value and resident satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, developing, renovating, leasing, and operating attractive, single-family homes as rental properties. As of March 31, 2022, we owned 57,984 single-family properties in select submarkets in 22 states.
Additional information about American Homes 4 Rent is available on our website at www.americanhomes4rent.com.
Contacts:
American Homes 4 Rent
Investor Relations
Phone: (855) 794-2447
Email: investors@ah4r.com
American Homes 4 Rent
Media Relations
Phone: (805) 413-5088
Email: media@ah4r.com
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SOURCE American Homes 4 Rent
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