The Company was assigned a BBB rating with a stable trend. In its analysis of the Company, DBRS Morningstar cited several factors supporting the investment grade credit rating: Regarding Armada Hoffler's strengths, DBRS Morningstar highlighted the Company's, "dominant market" position in Virginia Beach, the Company's asset sector diversification with a "desirable exposure" to core office, retail, and multifamily properties, and, "plenty of excess cash flow relative to [the Company's] financial obligations." "Achieving an investment grade rating is a tremendous accomplishment for our Company and our team," said Louis Haddad, President and Chief Executive Officer of Armada Hoffler.