Westfield Group http://www.alacrastore.com/company-snapshot/Westfield_Group-2561273 Wednesday, October 08, 2008 12:44:25 AM 2561273 Westfield Group en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/moodys/PBC_109540moodys/PBC_109540pdf...The Westfield Group ( Westfield ) is the largest retail property group in the world. It has ownership interests in a diversified portfolio of ### shopping centres (malls) in Australia, New Zealand, the USA and the UK, with gross lettable area (GLA) of ##.# million sqm and total assets under management of A$## billion as of December ####. In addition to the property management, leasing and marketing activities of these retail centres, it undertakes development, design and construction work on new retail properties as well as redevelopment of existing retail centres. The group was created in June #### when the units in Westfield Trust ( WT , owner of Australian and New Zealand properties), units in Westfield America Trust ( WAT , owner of the US properties) and shares in Westfield Holdings Limited ( WHL , owner of the brand name, UK assets, property manager and developer) were stapled together and listed as a combined group on the Australian Stock Exchange. ... 6/24/2008 12:33:09 AMpdfWestfield GroupWestfield Group807692663300.0000AnalysisAnalysisPBC_109540Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_154355_820654434moodys/PR_154355_820654434htmlGlobal Credit Research Announcement # MAY #### Announcement: Goodman Plus Trust Moody's has a stable outlook for Australian REITs Sydney, May ##, #### -- Moody's has a stable outlook on the ratings of Australian real estate investment...5/2/2008 12:27:35 AMhtmlGoodman Plus TrustGoodman GroupWestfield GroupAustralian Leisure & Entert. Prty Mgmt LtdCommonwealth Property Office FundGPT Group (The)Australian Leisure & Entert. Prty Mgmt Ltd; Commonwealth Property Office Fund; Goodman Group; ...820654434815096304807692663806762347600063393600062304150.0000NewsAnnouncementPR_154355_820654434Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/fitch/417356_pr_framefitch/417356_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Westfield Group821852314/17/2008 10:16:00 AM0101021085Press ReleaseWDC417356_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/640285spcred/640285normThe latest Summary from S&P3/31/2008 9:02:36 PMSummary175globalstructured640285AustraliaRetail REIT'sPacificGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesSummaryThe ratings on Westfield Group reflect the group's very large and high-quality shopping-center portfolio; broad asset, tenant, and geographic diversity; strong liquidity; and successful operating and development track record. These factors offset the risks associated with Westfield's U.K. expansion strategy; exposure to cyclical consumer spending; substantial ongoing property redevelopment and construction activities; and an intermediate financial risk profile. Westfield is one of the world's largest shopping-center owners and managers, with interests in a portfolio of 118 retail property assets valued at about A$43 billion. The stapled group, which comprises the units of Westfield Trust, Westfield America Trust, and Westfield Holdings Ltd., is a vertically integrated owner, manager, developer, and constructor of shopping centers. The strong business profile of Westfield isAUS40402060 404020 4040 40Westfield Group380243PACWDC@AUSUMMARYAUS40402060 404020 4040 40Westfield TrustWestfield Holdings Ltd.Westfield America Trust309252380244380245PACWFT@AUWSF@AUWFA@AUGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/640030spcred/640030normThe latest Full Report from S&P3/31/2008 1:24:36 PMFull Report400globalstructured640030AustraliaRetail REIT'sPacificGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesFull ReportBroad geographic and asset diversity, with 118 retail shopping centers located across Australia, New Zealand, the U.S., and the U.K. Very strong market position in the highly regulated Australian market, with its portfolio accounting for 40%-45% of total regional shopping-center space Diversified tenant base, with a well-spread lease-maturity profile Strong liquidity Demonstrated management expertise in the operation, development, and construction of shopping centers. Intermediate financial risk profile Exposure to development and construction risk via a significant ongoing refurbishment and new development program Relatively aggressive expansion strategy into the underdeveloped U.K. market Exposure to cyclical consumer spending The ratings on Westfield Group reflect the group's very large and high-quality shopping-center portfolio; broad asset, tenant, and geographic diversity; strong liquidity; and successfulAUS40402060 404020 4040 40Westfield Group380243PACWDC@AUFULLAUS92924S40402060 404020 4040 4040203010 402030 4020 40WestArt TrustWestfield Holdings Ltd.WCI Finance LLCWestfield America TrustWestfield Trust383131380245316927380244309252PACARTN@AUWSF@AUWFT@AUWFA@AUGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/633233spcred/633233normThe latest Summary from S&P2/29/2008 4:37:06 AMSummary175globalstructured633233AustraliaRetail REIT'sPacificGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesSummaryThe ratings on Westfield Group reflect the group's very large and high-quality shopping-center portfolio; broad asset, tenant, and geographic diversity across Australia, New Zealand, the U.S., and the U.K.; strong liquidity profile; and successful operating and development track record. These factors offset the risks associated with Westfield's expansion strategy into the U.K. shopping-center market; exposure to cyclical consumer spending; substantial ongoing property redevelopment and construction activities; and intermediate financial risk profile. Westfield is one of the world's largest shopping-center owners and managers, with interests in a portfolio of 118 retail property assets valued at about A$43 billion. The stapled group, which comprises the units of Westfield Trust, Westfield America Trust, and Westfield Holdings Ltd., is a vertically integrated owner, manager,AUS40402060 404020 4040 40Westfield Group380243PACWDC@AUSUMMARYAUS40402060 404020 4040 40Westfield Holdings Ltd.Westfield TrustWestfield America Trust309252380244380245PACWSF@AUWFA@AUWFT@AUGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_150063_820680853moodys/PR_150063_820680853htmlMoody's affirms Westfield's A#/P-# ratings after #### resultsAnnouncement2/29/2008 1:08:06 AMWestfield Finance (Aust) Limited820680853150.0000Newshtml808391873Westfield Europe Finance Plc807907057Westfield Holdings Limited807907054Westfield Capital Corporation Limited807692663Westfield Group600069539Westfield Management Ltd600062306Westfield America TrustWestfield America Trust; Westfield Capital Corporation Limited; ...PR_150063_820680853Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/COP_807692663moodys/COP_807692663htmlGlobal Credit Research Credit Opinion ## MAR #### Credit Opinion: Westfield Group Westfield Group Australia Ratings Category Moody's Rating Outlook Stable Issuer Rating -Dom Curr A# ST Issuer Rating -Dom Curr P-# Westfield Europe Finance...Credit Opinion1/3/2008 8:05:00 PMWestfield Group807692663150.0000NewshtmlWestfield GroupCOP_807692663Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/553662spcred/553662normThe latest News from S&P12/23/2007 11:36:31 PMNews175globalstructured553662Structured FinanceGlobal IssuersCorporationsReal Estate CompaniesNewsMELBOURNE (Standard & Poor's) Dec. 22, 2006--Standard & Poor's Ratings Services said today that Westfield Group's (A-/Stable/A-2) recent property divestments and the issuance of equity-like property-linked notes would have no impact on the corporate credit ratings and outlook on the group. Importantly, however, these initiatives are supportive of the Westfield Group's credit quality and have strengthened the group's financial profile to levels more consistent with the 'A-/A-2' ratings. On Dec. 20, 2006, Westfield Group announced the sale of a 50% interest in its Merry Hill shopping center asset in the U.K. for A$1.3 billion, and today issued A$1 billion in equity-like property-linked notes to PGGM Australian Investment Trust. The notes are considered to synthetically replicate the sale of a partialWestfield Group380243NEWSSTRUCGLOBISSCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_145247_820680857moodys/PR_145247_820680857htmlRating Action12/21/2007 4:56:00 AMGlobal Credit Research Rating Action ## DEC #### Rating Action: WFA Finance (Aust) Pty Limited Moody's assigns A# to Westfield's Euro MTN programme Sydney, December ##, #### -- Moody's Investors Service has assigned a long-term senior...WFA Finance (Aust) Pty Limited820680857150.0000Newshtml820680853Westfield Finance (Aust) Limited808391873Westfield Europe Finance Plc807907056WEA Finance LLC807907055WT Finance (Aust) Pty Limited807692663Westfield GroupWEA Finance LLC; Westfield Europe Finance Plc, ...PR_145247_820680857Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/621546spcred/621546normThe latest News from S&P12/19/2007 9:01:55 PMNews100globalstructured621546AustraliaRetail REIT'sPacificGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesNewsMELBOURNE (Standard&Poor's) Dec. 20, 2007--Standard&Poor's Ratings Services today said that it had assigned its 'A-' long-term rating to Westfield Group's (A-/Stable/A-2) US$10 billion guaranteed senior-unsecured Euro medium-term-note (MTN) program. Potential issuers under the program include Westfield Finance (Aust.) Ltd., WT Finance (Aust.) Pty Ltd., WEA Finance (Aust.) Pty Ltd., Westfield Europe Finance PLC, and WEA Finance LLC. All debt issues under the program will benefit from direct guarantees from each of the major operating/asset holding entities of the group, including Westfield Management Ltd., as responsible entity for the Westfield Trust (A-/Stable/A-2); Westfield America Management Ltd., as responsible entity for the Westfield America Trust (A-/Stable/A-2); and Westfield Holdings Ltd. (A-/Stable/A-2). In addition, each debt issue will benefitAUS40402060 404020 4040 40Westfield Group380243PACWDC@AUNEWSAUS92924S96008Y40402060 404020 4040 40Westfield TrustWestfield Holdings Ltd.Westfield America TrustWT Finance (Aust.) Pty Ltd.WEA Finance LLCWestfield Finance (Aust.) Ltd.WEA Finance (Aust.) Pty Ltd.Westfield Europe Finance PLC309252380244380245383056383057383058383134390114PACWFT@AUWSF@AUWFA@AUGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/617099spcred/617099normThe latest Summary from S&P12/3/2007 9:01:48 PMSummary175globalstructured617099AustraliaRetail REIT'sPacificGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesSummaryThe ratings on Westfield Group reflect the group's very large and high-quality shopping-center portfolio; broad asset, tenant, and geographic diversity across Australia, New Zealand, the U.S., and the U.K.; and successful operating and development track record. These factors offset the risks associated with Westfield's expansion strategy into the relatively undeveloped U.K. shopping-center market; exposure to cyclical consumer spending; substantial ongoing property redevelopment and construction activities; and intermediate financial risk profile. Westfield is one of the world's largest shopping-center owners and managers, with interests in a portfolio of 121 retail property assets valued at about A$43 billion. The stapled group, which comprises the units of Westfield Trust, Westfield America Trust, and Westfield Holdings Ltd., is a vertically integrated owner, manager, developer,AUS40402060 404020 4040 40Westfield Group380243PACWDC@AUSUMMARYAUS40402060 404020 4040 40Westfield TrustWestfield Holdings Ltd.Westfield America Trust309252380244380245PACWFT@AUWSF@AUWFA@AUGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Research