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Article: Summit Properties Receives Investment-Grade Rating For Unsecured Debt

Article from:
PR Newswire
Article date:
October 25, 1996
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CHARLOTTE, N.C., Oct. 25 /PRNewswire/ -- Summit Properties Inc. (NYSE: SMT), one of the largest developers and operators of upscale multifamily apartment communities in the Southeast, announced that Moody's Investors Service has assigned the investment-grade rating of Baa3 to Summit Properties Partnership L.P.'s $31 million in unsecured debt.

Moody's also assigned first-time prospective ratings of (P)Baa3 to the senior unsecured debt, and (P)Ba1 to the subordinated debt, issuable under Summit Properties Partnership LP's shelf registration. In addition, Moody's assigned ratings to Summit Properties Inc.'s $200 million shelf registration.

Moody's ...

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