Credit Rating

Japan Credit Rating Agency (JCR)

  • A

  • Stable Outlook

Rating and Investment Information (R&I)

  • A

  • Stable Outlook

Key Credit Metrics

2020/122021/122022/122023/122024/12
Total debt / total assets 23.0% 22.9% 22.5% 22.8% 23.7%
Secured debt / total assets 4.8% 0.0% 0.0% 0.0% 0.0%
EBITDA interest coverage 4.5x 4.6x 4.0x 3.3x 2.8x
Net debt / EBITDA 7.1x 6.9x 7.8x 7.5x 8.1x
Notes: EBITDA is derived from adjusting REIT Manager’s Fee paid in units - - - - -
Key Credit Metrics
2024
2023
2022
2021
2020
Dec 2024
Total debt / total assets
23.7%
Secured debt / total assets
0.0%
EBITDA interest coverage
2.8x
Net debt / EBITDA
8.1x
Notes: EBITDA is derived from adjusting REIT Manager’s Fee paid in units
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