WASHINGTON (dpa-AFX) - Equity Residential (EQR) said, due to the inherent uncertainty surrounding the social and economic disruption resulting from the COVID-19 pandemic, the company believes it is appropriate to withdraw its previously issued full-year 2020 guidance.
Equity Residential stated that it has approximately $25.6 million in debt maturities and $200.0 million in estimated development spend remaining in 2020. The company noted that, with over $2.2 billion in readily available liquidity and very strong credit metrics, it is well positioned to meet these and future obligations.
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