Strong Financial Foundations and Future Growth Prospects
COMPANY COMPETITIVE POSITION
Balance sheet positioned to weather disruption.
The company benefits from broad access to capital, ample liquidity and limited near-term debt maturities.
Balance Sheet Management
Investment Grade Credit Profile
•
BBB negative / Baa2 stable².
•
Provides access to broadest set of capital options.
•
Consistent cash flows and credit statistics.
Balance Sheet Liquidity (in millions)1
Revolver Capacity
$1,000.0
Drawn to Date
($371.1)
Available to Draw
$628.9
Cash and Cash Equivalents
Total
$54.0
$682.9
Maintain a staggered debt maturity schedule
Limited mortgage maturities in 2021.
Broad access to capital
ACC has raised $6.4 billion from dispositions, joint
ventures and capital markets activity since the
beginning of 2015.
Access to GSE's and other secured debt provides flexibility
Manageable development exposure with approximately 2%
of gross assets in annual developments through 2023
$142 million development cost remaining to fund is
covered by current liquidity.
Debt Maturity Schedule¹
$1,000
Unsecured Notes
■On-Campus Participating Properties
$900
Unsecured Term Loans
Unsecured Revolving Credit Facility
$800
■Mortgage Loans
$700
$600
$500
$200
$400
$800
$2
$400
$300
$371 $400
$200
$400 $400
$330
3
$100 $24
$132
$75
$26
$9
$8
$40
1. As of December 31, 2020.
2. A credit rating is not a recommendation to buy, sell, or hold securities and may be changed or withdrawn at any time.
$0
2021 2022 2023 2024 2025 2026 2027 2028
2029 2030+
15
3. In February 2021, $24.0 million of on-campus participating property mortgage debt scheduled to mature in 2021 was refinanced, which extended the maturity to February 2028.View entire presentation