Ratings On Japan Real Estate Investment Corp. Affirmed, Outlook Remains Negative May 11

Standard & Poors, May 2011

Abstract
OVERVIEW JRE commands high market recognition, with the second largest asset portfolio among the listed J-REITs that focus on office buildings. We have affirmed our long-term corporate credit and unsecured debt ratings and our short-term corporate credit rating on JRE, given the J-REIT's strong business position and generally stable cash flows, derived from its very high-quality real estate portfolio and strong financial flexibility. However, we have maintained our negative outlook on the long-term corporate credit rating on JRE, because the J-REIT's debt-to-capital ratio has risen moderately and its profitability measures and financial indicators are slightly weak, amid the continued sluggish office leasing market. TOKYO (Standard & Poor's) May 23, 2011--Standard & Poor's Ratings Services today affirmed its 'AA-' long-term corporate...

Companies mentioned in this report are: Japan Real Estate Investment Corp.
Action: Affirmed
Action: Outlook: Negative

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Japan Real Estate Investment Corp.

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