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These excerpts taken from the EQR 10-K filed Feb 26, 2009. A Significant Downgrade in Our Credit Ratings Could Adversely Affect Our Performance A significant downgrade in our credit ratings, while not affecting our ability to draw proceeds under the revolving credit facility, would cause our borrowing costs to increase under the facility and also would impact our ability to borrow secured and unsecured debt by increasing borrowing costs, or otherwise limit our access to capital. In addition, a downgrade below investment grade would require us to post cash collateral and/or letters of credit in favor of some of our secured lenders to cover our self-insured property and liability insurance deductibles. A Significant Downgrade in Our Credit Ratings Could Adversely Affect Our Performance A significant downgrade in our credit ratings, while not affecting our ability to draw proceeds under the revolving credit facility, would cause our borrowing costs to increase under the facility and also would impact our ability to borrow secured and unsecured debt by increasing borrowing costs, or otherwise limit our access to capital. In addition, a downgrade below investment grade would require us to post cash collateral and/or letters of credit in favor of some of our secured lenders to cover our self-insured property and liability insurance deductibles. A Significant Downgrade in Our Credit Ratings Could Adversely Affect Our Performance A significant downgrade in our credit ratings, while not affecting our ability to draw proceeds under the revolving credit facility, would cause our expected levels. We may not be able to refinance existing debt, including joint venture indebtedness (which in virtually all cases Please refer to Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, for the A Significant Downgrade in Our Credit Ratings Could Adversely Affect Our Performance A significant downgrade in our credit ratings, while not affecting our ability to draw proceeds under the revolving credit facility, would cause our expected levels. We may not be able to refinance existing debt, including joint venture indebtedness (which in virtually all cases Please refer to Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, for the This excerpt taken from the EQR 10-Q filed Nov 6, 2008. A Significant Downgrade in Our Credit Ratings Could Adversely Affect Our Performance A significant downgrade in our credit ratings, while not affecting our ability to draw proceeds under the revolving credit facility, would cause our borrowing costs to increase under the facility and also would impact our ability to borrow secured and unsecured debt by increasing borrowing costs and causing shorter borrowing periods, or otherwise limit our access to capital.
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