GCR GCR Global Credit Rating Co. Limited Global Credit - - PowerPoint PPT Presentation

GCR

GCR GCR

• Global Credit Rating Co. Limited

Global Credit Rating Co. Limited

GCR

EVALUATING A REIT

• What Rating Agencies want to see in a

typical REITs

GCR

The REIT Structure

• REIT type on offer

GCR

THE MAJOR PARTIES NEEDED FOR A SUCCESSFUL TRANSACTION

• Credit Enhancement – the nature, quality etc
• Insurance companies and their credit rating status
• Developers and their pedigree
• Maintenance Managers with a track record
• Trustee & Registrar – capacity and capability
• Investment/Cash managers
• Property Manager

GCR

GENERAL INFORMATION ON THE SPONSOR AND ITS OPERATIONS

• Credit policy guidelines and internal control

systems

• Information on the operating systems in use

(hardware & software)

• Revenue /rental/lease collection methods
• The management team of the sponsor and their

individual CVS detaining expertise and credentials.

GCR

PROPERTY PORTFOLIO

• Comprehensive property list in terms of: sector, value,

age, location purchase price, state of property, lettable Space etc.

• Comprehensive list of assets under the mortgage assets

and equity assets

GCR

FINANCE

• Future cashflow, capex plan and property

portfolio for the medium term horizon or transaction tenor

• Borrowings position and terms.

GCR

Documentation type

• Placement Memorandum
• Trust Deed
• Cash Management/ Investment Agreement
• Property Management Agreement
• MOUs / Agreements with developers
• Relevant documentation on credit enhancement
• Investment Policy
• Mortgage Policy

GCR

Thank You for Listening