Fitch Publishes REIT Report Quarterly for 4Q'13

Link to Fitch Ratings' Report: REIT Report Quarterly

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=728119

Fitch Ratings has published its fourth-quarter 2013 REIT Report Quarterly, which highlights research issued during the quarter.

In its report, '2014 Outlook: EMEA Property and Real Estate', Fitch stated that EMEA real estate issuers will benefit from well-hedged, low debt-funding costs and inflation-linked rental income, which will underpin cash-flow generation for 2014 and 2015. Rated real estate issuers are well insulated from the risks of faster-than-expected tightening in interest rates and emergence of property bubbles in some prime markets.

In its report, '2014 Outlook: U.S. Equity REITs', Fitch states that it is maintaining its stable outlook for the U.S. equity REIT sector heading into 2014, given expectations of continued solid liquidity driven by good access to capital, moderately improving property-level fundamentals across most asset classes, and lower-risk strategies. These positive elements are offset by expectations of high, albeit relatively unchanged, leverage and a continued, slow economic recovery.

In the '2014 Outlook: Hong Kong Commercial Property' report, Fitch stated that the outlook for Hong Kong's commercial property segment is stable, although certain sub-sectors face downside risks. Fitch believes that while rents for shopping malls and offices outside Hong Kong's main business district, the Central area, will likely edge up, office rents will be flat or fall slightly while street-shop rents will face decline. Office rents in the Central district will continue to be dampened by lack of expansion demand from foreign financial institutions in 2014.

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 then Corporate Finance then REITs then Research

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

Applicable Criteria and Related Research:

2014 Outlook: EMEA Property and Real Estate (December 2013)

2014 Outlook: U.S. Equity REITs (December 2013)

2014 Outlook: Hong Kong Commercial Property (December 2013)

Applicable Criteria and Related Research:

2014 Outlook: EMEA Property and Real Estate

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=726724

2014 Outlook: U.S. Equity REITs

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=723503

2014 Outlook: Hong Kong Commercial Property

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=725095

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