Sun Communities, Inc. Receives Investment Grade Ratings from S&P and Moody's
Southfield, MI, June 14, 2021 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (“the Company”), a real estate investment trust (“REIT”) that owns and operates or has an interest in manufactured housing (“MH”) communities, recreational vehicle (“RV”) resorts and marinas, today announced that it has received investment grade ratings from S&P Global Ratings and Moody’s Investor Service. S&P Global Ratings has assigned a BBB issuer rating to the Company with a stable outlook and Moody's Investors Service has assigned a Baa3 issuer rating to the Company with a stable outlook.
“We are extremely pleased to announce that we have received our inaugural credit ratings from S&P and Moody’s,” stated Gary Shiffman, Chief Executive Officer. “The investment grade ratings received from both agencies recognize Sun’s attention to balance sheet stewardship, strong operating track record, resilience and industry-leading position. These ratings represent another important milestone in Sun’s ongoing evolution as we continue to grow our portfolio and further strengthen our balance sheet. We believe these ratings will allow us to continue to execute on our growth strategy with additional flexibility, broadened access to capital and incremental improvements to our overall cost of capital.”
About Sun Communities, Inc.
Sun Communities, Inc. is a REIT that, as of March 31, 2021, owned, operated, or had an interest in a portfolio of 562 developed MH, RV and marina properties comprising over 151,600 developed sites and nearly 38,800 wet slips and dry storage spaces in 39 states and Ontario, Canada.
For Further Information at the Company:
Karen J. Dearing
Chief Financial Officer
(248) 208-2500
