Kenedix Announces Acquisition of R&I Credit Rating.Tokyo, Japan, Aug 7, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Kenedix, Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 4321), a Tokyo-based provider of a broad range of real estate and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , has announced that on July 31st it received a newly assigned credit rating from Rating and Investment Information, Inc. (R&I) of BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. , with a stable outlook. The R&I report cited Kenedix's prudence in a Japanese real estate market that has been expanding steadily against possible changes in Japan's low interest rate policy: "At present, there are some concerns that the real estate market is overheating Overheating An economy that is growing very quickly, with the risk of high inflation. . Also, because changes to monetary policy will end Japan's low interest rate regime, the product acquisition strategies of real estate fund managers will have great impact on their future performance results. "In light of these factors, Kenedix is prudently investing in only those products that are within its budget, rather than expanding the scale of its operations. The company holds few products that deliver less than a 5% yield, including J-REIT operating assets Operating Assets Another term for working capital. . "The value of Kenedix's holding assets have recently been increasing at a rate of 70% year and, on the basis of proportionately increasing revenue, R&I believes that these assets form a reliable source of income for the company." The R&I report also pointed to the resilience of Kenedix's financial structure regards the operating environment: "Kenedix is also taking measures to maintain its financial structure based on its debt-equity ratio, and the fact that the company is comparatively resilient to fluctuations in the operating environment is also in its favor. The Rating Outlook is Stable." Kenedix aims to diversify and stabilize its fund-rasing capabilities. Furthermore, it expects to enhance transparency of management in the future, by obtaining an outside, objective credit rating which is regarded as an index of management ability. * Rating and Investment Information, Inc. ("R&I"), headquartered in Japan, is the most recognized credit rating agency A credit rating agency (CRA) is a company that assigns credit ratings for issuers of certain types of debt obligations. In most cases, these issuers are companies, cities, non-profit organizations, or national governments issuing debt-like securities that can be traded on a in the yen-denominated debt market, and the independent source of financial information for most broker-dealers and financial institutions in Japan and abroad. In 2006, the Japanese Financial Services Agency The Financial Services Agency is a Japanese government organization responsible for overseeing banking, securities and exchange, and insurance in order to ensure the stability of the financial system of Japan. The agency reports to the Minister of Financial Services. and Hong Kong Monetary Authority The Hong Kong Monetary Authority (Traditional Chinese: 香港金融管理局) or HKMA (金管局) is Hong Kong's central banking institution. recognized R&I as an External Credit Assessment Institution (ECAI ECAI European Conference on Artificial Intelligence ECAI External Credit Assessment Institution ) under the framework of Basel II, a new capital adequacy regulation for Banks. For more information, see http://wwwr-i.co.jp ** The R&I report is available at http://www.japancorp.net/clientreports/3659/R&I060731.pdf About Kenedix, Inc. Kenedix, founded in April 1995, initially introduced and promoted real estate auctions to Japanese investors and financial institutions. Today, the Kenedix Group is an organization advanced in a broad range of real estate services and finance. The Group's overall goal is to maximize returns on investments, accomplished by leveraging the Group's comprehensive research skills and extensive knowledge of the real estate business to accurately analyze and evaluate trends in a constantly changing market. Kenedix is working to become one of Japan's most prominent real estate asset managers, while building a highly stable and profitable corporate group. For more information, please visit www.kenedix.com. Source: Kenedix, Inc. Contact: Kenedix, Inc. Taiji Yoshikawa Chief Financial Officer +81-3-3519-2530 Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion