Fitch Publishes REIT Report Quarterly for 3Q'14

NEW YORK/LONDON--()--Link to Fitch Ratings' Report: REIT Report Quarterly

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=779768

Fitch Ratings has published its third-quarter 2014 REIT Report Quarterly, which highlights research during the quarter.

On Sept. 24, 2014, Fitch published a special report stating that the distribution of cash dividends can actually serve as a crystal ball of sorts in assessing the fundamentals and priorities of U.S. equity REITs.

On Aug. 19, 2014, Fitch published its liquidity report stating that the median liquidity coverage ratio for select REITs is 1.3x for the July 1, 2014-Dec. 31, 2016 period, flat year over year. Record capital raising in the unsecured bond and common equity markets thus far in 2014 has resulted in healthy dry powder from revolver availability and nearly all issuers being well-poised to address upcoming maturities and capital expenditures.

On Aug. 5, 2014, Fitch published a special report that addresses U.S. REIT corporate governance attributes. The limited number of staggered boards, a high percentage of independent board members, experienced board membership, the widespread incorporation of credit metrics into management compensation and board background diversity serve to protect REIT bondholders. However, one credit negative is the preponderance of REIT CEOs that serve as independent members of other boards.

Other items in this edition of Fitch's 'REIT Report Quarterly' include:

--An overview of recent rating actions;

--Summaries of recently released REIT reports and criteria;

--Links to recent Fitch research.

'REIT Report Quarterly' is available by clicking on the link or at 'www.fitchratings.com' under the following headers:

Ratings and Research >> Corporate Finance >> REITs >> Research

Additional information is available at 'www.fitchratings.com'

Applicable Criteria and Related Research:

--'U.S. Equity REITs: When Dividends Affect Ratings'

--'2Q14 U.S. Equity REIT Liquidity Update: A Banner Year (So Far)'

--'Don't Forget About Bondholders: Strong Governance for U.S. Equity REITs Benefits Unsecured Credit'

Applicable Criteria and Related Research:

U.S. Equity REITs: When Dividends Affect Ratings

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=767988

2Q14 U.S. Equity REIT Liquidity Update: A Banner Year (So Far)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=759968

Don¬タルt Forget About Bondholders: Strong Governance for U.S. Equity REITs Benefits Unsecured Credit

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=753319

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Steven Marks
Managing Director
+1-212-908-9161
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Anil Jhangiani
Senior Director
+44 0203 530-1571
or
Kalai Pillay
Senior Director
+61 8256-0388
or
Jose Vertiz
Director
+212 908-0641
or
Media Relations
Sandro Scenga
+1 212-908-0278
New York
sandro.scenga@fitchratings.com

Contacts

Fitch Ratings
Steven Marks
Managing Director
+1-212-908-9161
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Anil Jhangiani
Senior Director
+44 0203 530-1571
or
Kalai Pillay
Senior Director
+61 8256-0388
or
Jose Vertiz
Director
+212 908-0641
or
Media Relations
Sandro Scenga
+1 212-908-0278
New York
sandro.scenga@fitchratings.com