Moodys Investors Service - Nippon Building Fund Inc. (8951) Nippon Building Fund Inc.: Update to credit analysis

Report

Moody's Investors Service

Nippon Building Fund Inc.: Update to credit analysis

Nippon Building Fund Inc.'s A2 rating reflects stable cash flow from its diversified portfolio, and its conservative financial management.

08/06/2018 7 EN

Underlying

Nippon Building Fund Inc.

Nippon Building Fund is a real estate investment trust that invests in office properties and is managed by Nippon Building Fund Management Ltd. Co. employs funds raised through shareholder subscriptions and borrowing to invest in real estate, real estate-backed securities, trust beneficiary rights and other assets. As of Dec 31 2013, Co.'s portfolio consisted of 71 properties with 1,116 tenants and total leasable 1,038,549 sq. m. of area. 86% of total portfolio is in Central Tokyo and the Tokyo Metropolitan area including Kanagawa, Chiba, Saitama, Ibaraki, and Tochigi Prefectures, Japan. The remaining is in the regional cities, such as Sapporo, Sendai, Fukushima, and Niigata, Japan.

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JP3027670003 Japan

Provider

Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

130 countries
11,000 corporate issuers
21,000 public finance issuers
76,000 structured finance obligations

Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.

Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions.

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