AML Amli Resident Prp Tr

AMLI Residential Responds to Moody's Announcement CHICAGO, June 24 /PRNewswire-FirstCall/ -- The following statement is attributable to Robert J. Chapman, AMLI Residential Properties Trust (NYSE:AML) Executive Vice President and Chief Financial Officer, in response to today's announcement by Moody's Investors Services to the change in its credit rating for the Company's senior unsecured debt to the non-investment grade rating of Ba1. "Although disappointed with Moody's assessment, AMLI has historically made limited use of its investment grade rating and does not currently have any publicly- or privately-placed bond issues that will be negatively impacted. Unencumbered by the rating agency process to maintain an investment credit rating, AMLI believes it will have greater flexibility to pursue co-investment acquisition and development opportunities, execute its announced "B to A" strategy and use secured debt, particularly in its joint ventures. In the immediate near term, the rating change will result in a small increase in the margins on AMLI's credit facilities. However, AMLI is considering a number of alternatives that include modifying and/or refinancing its credit facilities that will likely mitigate the impact of the rating change." AMLI is focused on the development, acquisition and management of institutional quality multifamily communities in the Southeast, Southwest, Midwest and Mountain regions of the U.S. AMLI Residential also serves as institutional advisor and asset manager for large pension funds, tax-exempt foundations and other financial institutions through AMLI's co-investment business. AMLI employs approximately 850 people who are dedicated to achieving AMLI's mission -- Provide An Outstanding Living Environment For Our Residents. More information on AMLI is available at http://www.amli.com/ . DATASOURCE: AMLI Residential Properties Trust CONTACT: Robert J. Chapman, Chief Financial Officer of AMLI Residential Properties Trust, +1-312-984-6845 Web site: http://www.amli.com/

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