Associated Estates Realty Corporation Rating Raised by S&P 
CLEVELAND, OH (REIT Media) July 10, 2007 - Associated Estates Realty Corporation (NYSE:AEC) announced today that Standard & Poor's has raised its corporate credit rating on the Company from B to B+ and raised the firm's preferred stock rating from CCC to CCC+. At the same time, S&P revised the Company's outlook from positive to stable.
"We are thrilled that S&P has recognized our efforts to strengthen our balance sheet and enhance our financial flexibility," said Jeffrey I. Friedman, chairman, president and CEO.
A copy of the S&P press release can be viewed on the Company's website at http://ir.aecrealty.com/releases.cfm.
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 in 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 www.aecrealty.com.
Source: Associated Estates Realty Corporation
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Jul.10.2007. 09:55
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