Europe/Asia/Emerging RE - Ratings and Research
Following REIT deal, R&I affirms Japan Retail's rating
November 03, 2009 12:46 PM ET
By Deepa Patadia
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Rating and Investment Information Inc. on Oct. 30 affirmed Japan Retail Fund Investment Corp.'s rating of AA- following its planned merger with LaSalle Japan REIT Inc. R&I said it does not anticipate significant changes in Japan Retail's portfolio or financial structure following the merger, as its asset management policy and the support from its sponsor, Mitsubishi Corp., will remain unchanged, and because the LaSalle Japan assets absorbed will comprise only little more than 20% of Japan Retail's portfolio. R&I's rating outlook is stable. Meanwhile, the rating agency placed its rating for LaSalle Retail on the rating monitor with a view to upgrading. |
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