American Campus Communities Assigned a ‘BBB-’ Corporate Credit Rating by Standard & Poor’s Ratings Services

American Campus Communities, Inc. (NYSE:ACC), the largest owner and manager of high-quality student housing properties in the U.S., today announced that Standard & Poor’s Ratings Services assigned a ‘BBB-‘ corporate credit rating to American Campus with a stable outlook.

According to the S&P report, the BBB- corporate credit rating acknowledges strong industry fundamentals and positive college enrollment trends that contribute to the stability of American Campus’s net operating income. In addition, the stable outlook reflects S&P’s view that the company’s portfolio will experience stable and steady growth due to favorable demand characteristics for its well-located properties and management’s track record of delivering fully occupied, new development projects on schedule.

Bill Bayless, American Campus CEO, commented, “The BBB- rating from S&P marks an important milestone for the company. Accessing the investment grade unsecured debt market is a critical component of our future funding strategy and further increases our competitive advantage as universities, sellers, and potential partners will now have even greater confidence in our ability to execute and fund our growth strategies.”

More information regarding American Campus’s rating assignment can be found in the Standard & Poor's research report dated November 3, 2011 available on its website at www.standardandpoors.com.

About American Campus Communities

American Campus Communities, Inc. is the largest owner and manager of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management, and operational management of student housing properties. American Campus Communities owns 112 student housing properties containing approximately 69,200 beds. Including its owned, joint venture and third-party managed properties, ACC's total managed portfolio consists of 146 properties with approximately 94,000 beds. Visit www.americancampus.com or www.studenthousing.com.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates and projections about the industry and markets in which American Campus operates, management's beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.