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Frontier Real Estate Investment Corp. Mar 09
Standard & Poors, March 2009
Abstract
The highly regulated nature of Japanese Real Estate Investment Trusts (J-REITs) A strong business position backed by the real estate management, development capabilities, and brand recognition of its sponsor A high-quality real estate portfolio, which mostly consists of properties rented out under long-term leasing contracts that generate stable cash flows A conservative financial policy and debt-to-capital structure High profitability Portfolio concentration on specific properties and tenants Short operational track record under its new sponsor Relatively aggressive external growth under its new sponsor Weakness in the retail industry reflecting concerns over the uncertain economic outlook and a slowdown in consumer spending Frontier Real Estate Investment Corp. (FRI; A+/Stable/A-1) is a Japanese real estate investment trust (J-REIT) that specializes in retail properties....
Companies mentioned in this report are: Frontier Real Estate Investment Corp.,Mitsui Fudosan Co. Ltd.
Action: Review
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: Full Analysis
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