June 11, 2021
For Immediate Release
REIT Issuer
HEIWA REAL ESTATE REIT, Inc.
9-1 Nihonbashi Kabuto-cho,Chuo-ku, Tokyo
Aya Motomura, Executive Director
(Securities Code: 8966)
Asset Management Company
HEIWA REAL ESTATE Asset Management CO., LTD.
Masanori Hirano, President & Representative Director
Inquiries: Yoshio Ito, General Manager, Planning & Finance Department
TEL. +81-3-3669-8771
Notice Concerning Change in Rating Outlook
HEIWA REAL ESTATE REIT, Inc. (the "Investment Corporation") announced today that Japan Credit Rating Agency, Ltd. ("JCR"), from which the Investment Corporation has acquired a rating, announced a change in the Investment Corporation's rating outlook as described below.
Details
1.Details of Change
Before Change | After Change | |
Issuer Rating | A+ | A+ |
Rating Outlook | Stable | Positive |
2.Reason for the Revision
According to JCR, the rating outlook mainly reflects the followings.
- The asset size has increased to 192.9 billion yen on an acquisition price basis and a high level of diversification is maintained with respect to portfolio composition.
- Despite the COVID-19 pandemic, stable rental business operations are carried out by making rent increase revisions and maintaining high occupancy rates.
- Initiatives in portfolio improvements are made on an ongoing basis through asset replacement and a capital increase by public offering, which was executed for the first time in five and a half years, as well as by the utilization of sponsor support programs.
- Sound financial operations are carried out continuously.
- For more details, please refer to the JCR website (https://www.jcr.co.jp/en/)
- Investment Corporation Website:https://www.heiwa-re.co.jp/en/
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Disclaimer
HEIWA Real Estate REIT Inc. published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 07:03:01 UTC.