EdR Corporate Credit Rating Upgraded by S&P to ‘BBB-’

MEMPHIS, Tenn.--()--EdR, a leader in the development, ownership and management of high-quality collegiate housing properties, today announced that on Dec. 1, 2015 Standard & Poor’s Ratings Services (S&P) raised its corporate credit rating on EdR (NYSE:EDR), to “BBB-” from “BB+”.

“Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations”

In its report, S&P noted “We are raising our corporate credit rating on EdR to ‘BBB-’, based on the recent deleveraging and strong recent operating performance, which we believe is sustainable over the next two years, driven by favorable tailwinds in the student housing industry.”

Further, the report states that EdR’s “outlook is stable” and “reflects our view that EdR’s stabilized communities will deliver modest growth, supported by favorable near-term fundamentals, and will be supplemented by the delivery of new development projects currently in process.”

About EdR

EdR (NYSE:EDR) is one of America's largest owners, developers and managers of collegiate housing. EdR is a self-administered and self-managed real estate investment trust that owns or manages 81 communities with more than 42,000 beds serving 52 universities in 23 states. EdR is a member of the Russell 2000 Index and the Morgan Stanley REIT indices. For details, please visit the company's Web site at www.EdRtrust.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements about the company's business that are not historical facts are "forward-looking statements." Forward-looking statements are based on current expectations. You should not rely on our forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the company's future results, performance, or achievements to differ significantly from the results, performance, or achievements expressed or implied by such statements. Such risks are set forth under the captions "Item 1A. Risk Factors" and "Forward-Looking Statements" in our annual report on Form 10-K and under the caption "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" (or similar captions) in our quarterly reports on Form 10-Q, and as described in our other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the dates on which they are made, and the company undertakes no obligation to update publicly or revise any guidance or other forward-looking statement, whether as a result of new information, future developments, or otherwise, unless required by law.

Contacts

EdR
J. Drew Koester, 901-259-2523
Senior Vice President, Capital Markets and Investor Relations
dkoester@EdRtrust.com
or
For media information or photography:
Susan Jennings, 901-259-2506
Vice President, Corporate Communication and Marketing
sjennings@EdRtrust.com

EdR