Frontier Real Estate Investment Corp. (FRI; A+/Stable/A-1) is a Japanese real estate investment trust (J-REIT) that specializes in retail properties. It has a leading position in the J-REIT market, backed by the real estate development, management capabilities, and brand recognition of its sponsor, Mitsui Fudosan Co. Ltd. (Mitsui Fudosan; BBB+/Stable/A-2). At the end of the 11th six-month fiscal period, ended Dec. 31, 2009, FRI had a real estate portfolio consisting of 20 retail properties, including two plots of land with a fixed-term leasehold for commercial use (soko-chi), with a total acquisition value of about -178 billion (based on purchase price). The retail industry remains sluggish amid a slowdown in domestic consumption, indicating difficult overall business conditions. Nevertheless, FRI has not...
Companies mentioned in this report are: Frontier Real Estate Investment Corp.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >