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Moody's affirms Saizen REIT
Moody's Investors Service said it affirmed Saizen REIT's Caa1 corporate family rating.
The outlook is negative.
The affirmation reflects Moody's view that the failure of YK Shintoku to pay a ¥7.3 billion commercial mortgage backed securities obligation will have a limited impact on Saizen's rating, the agency said.
The negative outlook reflects Saizen's weak liquidity, characterized by the risk of a potential covenant breach due to the risk of asset devaluation, Moody's said.
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