Moody's Ratings affirms Sun Communities' Baa3 rating, stable outlook
Moody's Ratings (Moody's) today affirmed the backed senior unsecured and issuer ratings of Sun Communities Operating Ltd. Partnership ("Sun") at Baa3 and maintained the stable outlook. RATINGS RATIONALE Sun Communities' Baa3 rating reflects its size and scale as the industry leading owner and op...Sun Communities is a self-administered and self-managed real estate investment trust. The company is engaged in acquiring, operating, developing manufactured housing (MH) and recreational vehicle (RV) communities. An MH community is a residential subdivision designed and improved with sites for the placement of manufactured homes, related improvements, and amenities. Modern MH communities contain improvements similar to other garden style residential developments, including centralized entrances, paved streets, curbs, gutters, and parkways.An RV community is a resort or park designed and improved with sites for the placement of RVs for varied lengths of time.
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