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TEXT-S&P summary: Japan Retail Fund Investment Corp.
2012年5月28日 / 早上6点48分 / 5 年前

TEXT-S&P summary: Japan Retail Fund Investment Corp.

May 28 -

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Summary analysis -- Japan Retail Fund Investment Corp. ------------ 28-May-2012

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CREDIT RATING: A/Stable/A-1 Country: Japan

Primary SIC: Real estate

investment

trusts

Mult. CUSIP6: 471095

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Credit Rating History:

Local currency Foreign currency

22-Dec-2009 A/A-1 A/A-1

28-Sep-2004 A+/A-1 A+/A-1

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Rationale

The ratings on Japan Retail Fund Investment Corp. (JRF) reflect its highly diversified asset portfolio, comprising high-quality real estate properties and representing the largest portfolio among listed Japanese REITs (J-REITs) that specialize in retail properties, as well as the highly regulated nature of J-REITs in general. The ratings also reflect JRF’s strong business position in the J-REIT market, backed by the favorable credit quality and strong brand recognition of its sponsors, Mitsubishi Corp. (A+/Stable/A-1) and UBS AG (A/Negative/A-1), as well as Mitsubishi’s extensive network in the retail industry; JRF’s strengthened debt profile, due to its efforts to lengthen loan maturities and diversify its debt repayment schedule; its favorable relationships with many financial institutions; and its continued, relatively high financial flexibility.

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