Abstract: The following list ranks all the rated companies in this industry from strongest to weakest based on rating and outlook. Companies with the same rating and outlook are further ranked by our opinion of credit quality based primarily on business risks for investment-grade companies and primarily on financial risks for speculative-grade companies. Ratings are displayed as long-term rating/outlook or CreditWatch/short-term rating. A double dash (--) indicates no rating. Issuer credit ratings are identical for local and foreign currency unless noted with the "LC" and "FC" designations. For the related industry report card, please see "Despite Solid Portfolios And Balance Sheets, European Real Estate Companies Are Under Increasing Ratings Pressure," published today on RatingsDirect.

Brief Excerpt: RESEARCH Ratings Definitions Issuer Ranking: European Real Estate Companies, Strongest To Weakest Publication date: 12-Jan-2009 Primary Credit Analyst: Pierre Georges, Paris (33) 1-4420-6778; pierre_georges@standardandpoors.com Secondary...

Report Type: Commentary
Sector: Global Issuers, Structured Finance
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 S&P Credit Research
S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.