Daiwa House Reit Investment : Notice Concerning Change of Credit Rating (From A+ To AA-)

July 19, 2019

For Immediate Release

REIT Issuer:

Daiwa House REIT Investment Corporation

2-4-8, Nagatacho, Chiyoda-ku, Tokyo

Jiro Kawanishi, Executive Director

(TSE Code: 8984)

Asset Manager:

Daiwa House Asset Management Co., Ltd.

Koichi Tsuchida, President and CEO

Inquiries:

Haruto Tsukamoto, Director and CFO

TEL. [phone]

Notice Concerning Change of Credit Rating (From A+ To AA-)

Daiwa House REIT Investment Corporation ("DHR") hereby announces that Rating and Investment Information, Inc. ("R&I") has changed DHR's issuer rating today as shown below.

1. Change of credit rating

	Rating agency			Type of credit rating			Before change			After change
	R&I		Issuer rating		A+		AA-
		(Outlook)		(Positive)		(Stable)

For details of the definition of the above rating, please refer to R&I's website.

• • R&I's website: https://www.r-i.co.jp/en/
• Distribution of this material: This material is distributed to "Kabuto Club" (a media correspondents' club at the Tokyo Stock Exchange), the press club at the Ministry of Land, Infrastructure, Transport and Tourism and the press club for construction trade newspapers at the Ministry of Land, Infrastructure, Transport and Tourism.
• DHR's website: https://www.daiwahouse-reit.co.jp/en/