Alex Chenarides - Barry Slatt Mortgage
Transcription
Alex Chenarides - Barry Slatt Mortgage
TENANT CREDIT RATINGS Alex Chenarides | Executive Director phone 562.225.2911 alexc@slatt.com Retail Tenant List, with Ticker Symbols and Credit Ratings 1st Quarter 2012 CREDIT TENANCY MOODY’S STANDARD & POOR Highest Quality Aaa AAA High Quality Aa AA Upper Medium Grade A A Medium Grade Baa BBB Lower Medium Grade* Ba BB Lower Grade B B Poor Quality Caa CCC Speculative Ca CC No Interest Being Paid or BK Petition Filed C C Note: The ratings from Aa to Ca by Moody’s may be modified by the addition of a 1, 2 or 3 to show the relative standing within the category. 1=High 3=Low *Below Investment Grade Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com STOCK SYMBOL MOODY’S BOND RATING S&P LONG TERM DZA Baa3 Stable BBB- HEB Private NR Ingles IMKTA Ba3 Negative SUBSIDIARIES, OTHER ENTITIES OR COMPANIES ACQUIRED GROCERY STORES Delhaize Group Kroger Company A *** BB- Neg *** KR Baa2 Stable BBB Stable PUSH NR NR Private B2 Neg B Stable Ruddick Corp. RDK NR NR Safeway, Inc. SWY Baa2 Stable BBB Stable Private B3 Stable B- Stable Publix Super Markets, Inc. Roundy’s Supermarkets Inc Smart & Final Holding Corp Food Lion, Bottom Dollar, Hannaford Brothers, Kash n’ Karry Crispers Pick n Save, Copps, Metro Market, Rainbow, Mariano’s Harris Teeter Von’s, Dominick’s, Carr-Gotttein, Randall’s, Genuardi’s, Pavillion’s Smart Foodservice Cash & Carry, Sun Harvest, Henry’s Spartan Stores SPTN NR SuperValu, Inc. SVU B1 Stable TSCO-LN A3 Stable A- Stable Fresh & Easy Wal-Mart Stores, Inc. WMT Aa2 Stable AA Stable Sam’s Clubs, Neighborhood Markets, Wal Mart SuperCenter Weis Markets, Inc. WMK NR NR Whole Foods Market, Inc. WFMI NR BB+ Stable Winn Dixie WINN NR NR Winn & Lovett, Thrifty Maid Longs Drug Stores Corp. LDG NR NR *** Rite Aid RAD Caa2 Stable B- Stable *** Savon/Osco SVU B1 Stable Walgreen Co. WAG A2 Stable CVS Corporation CVS Tesco, plc NR Fred Meyer, Ralph’s, Smith’s Food & Drug, QFC, Food 4 less D&W Fresh Markets, Family Fare Supermarkets, Glen’s Markets B+ Negative Albertson’s, Richfood, Cub Foods, Farm Fresh, Savon/Osco Superpetz Nature’s Heartland, Food for Thought, Wild Oats DRUG STORES B+ Negative Subsidiary of Albertsons A Stable *** Baa2 Stable BBB+ Stable Arbor, Merged w/Caremark, Acquired Eckerds renaming to CVS DISCOUNT RETAILERS 99 Cents Only Stores, Inc. NDN NR Big Lots BIG NR COST A2 Positive A+ Stable DG Ba2 Stable BB Stable Dollar Tree Stores, Inc. DLTR NR NR Family Dollar Stores, Inc. FDO Fred’s Inc. FRED NR Ross Stores Inc. ROST NR TJX NR Costco Wholesale Corp. Dollar General TJ Maxx Companies, Inc. NR *** BBB Negative *** *** *** Baa3 Stable BBB- Negative *** NR Fred’s Pharmacy BBB+ Stable Ross Dress for Less, DD’s Discounts A Stable Marshall’s, Homegoods, Winners, A. J. Wright, Bob’s Stores NR = No Rating Available Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com STOCK SYMBOL MOODY’S BOND RATING S&P LONG TERM SUBSIDIARIES, OTHER ENTITIES OR COMPANIES ACQUIRED DEPARTMENT STORES / APPAREL RETAILERS Abercrombie & Fitch ANF NR NR *** Adidas ADS NR NR *** Aeropostale ARO NR NR *** American Apparel APP NR NR *** American Eagle Outfitters AEO NR NR *** Bebe BEBE NR NR *** Brown Shoe Company BWS B2 Stable B+ Stable Burlington Northern Santa Fe BNI A3 Stable BBB+ Stable Famous Footwear, Naturalizer, Buster Brown Cato’s CTR NR NR Cato’s, It’s Fashion Charlotte Russe CHIC NR NR *** Charming Shops Inc CHRS NR B- Stable Chico’s CHS NR NR Collective Brands Inc PSS B1 Stable B+ Positive Payless Shoe Source, The Stride Rite Corp Dillard’s Inc DDS B1 Stable BB- Stable *** Lane Bryant, Fashion Bug, Catherine + Sizes, Petite Sophisticate Soma Intimates Dress Barn DBRN NR NR Maurice’s Brands Eddie Bauer EBHI NR NR *** Finish Line FINL NR NR Man Alive, Paiva Fossil FOSL NR NR *** Gap, Inc. GPS NR Genesco GCO NR BB- Stable Gottschalks GOT NR NR *** Guess GES NR NR *** J. Crew JCG NR B Stable *** JC Penney JCP Ba1 Stable BB+ Stable *** Jo-Ann Stores, Inc. JAS NR B Stable *** Jos.A.Bank JOSB NR NR *** Kohl’s Corporation KSS Kenneth Cole CKP NR NR Limited Brands Inc LTD NR BB+ Stable Macy’s, Inc. M BB+ Positive Banana Republic, Old Navy, Gap, Piperlime Journeys, Journeys Kidz, Underground Station, Johnston & Murphy Baa1 Stable BBB+ Stable *** *** Ba1 Positive BB+ Positive Bloomingdales Men’s Wearhouse, Inc. MW NR NR K & G Men’s Center New York & Co NWY NR NR Jasmine Sola Nordstrom JWN Baa1 Stable A- Stable *** RL A3 Stable A- Stable *** Polo Ralph Lauren NR = No Rating Available Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com MOODY’S S&P STOCK BOND LONG SYMBOL RATING TERM SUBSIDIARIES, OTHER ENTITIES OR COMPANIES ACQUIRED DEPARTMENT STORES / APPAREL RETAILERS (continued) Retail Ventures Inc RVI NR NR Saks Inc. SKS B1 Positive BB- Stable DSW Shoe Warehouse (Ticker DSW) Filene’s Basement, Value City *** Sears Holdings SHLD Shoe Carnival SCVL Ba3 Negative B+ Negative Sears, K-mart, Orchard Supply Hardware NR NR *** Shoe Pavilion SHOE NR NR BK Filed Talbot’s, Inc. TLB NR NR J. Jill Target Corporation TGT A2 Stable A+ Stable Super Target, Target The Bon Ton BONT B3 Stable B Stable Bon-Ton, Bergner’s, Boston Store Tuesday Morning TUES NR NR *** Urban Outfitters URBN NR NR *** Aaron Rents RNT NR NR Aaron’s Rents, Aaron’s Corporate Furnishings, Rimco Advance Auto Parts AAP Baa3 Stable BBB- Stable Advance Micro Devices AMD NR B+ Develop s computer processors Alberto-Culver Co. ACV A1 Stable NR Beauty & personal care products; now a part of the Unilever Group Alcatel-Lucent USA Inc. ALU NR B NR BBB- OTHER RETAIL Alimentation Couche-Tard-B ATD/B:CN Discount Auto Parts, Western Auto Global communication Engages in the operation of convenience stores Amazon.Com Inc. AMZN NR A- Amgen Inc. AMGN A3 Stable A+ Stable T A2 A- Stable AutoZone, Inc. AZO Baa2 Stable BBB Stable Bally Total Fitness BFTH NR NR *Ratings withdrawn 2-07 BKS NR NR *** BBBY NR BLS NR NR AT&T Barnes & Noble, Inc. Bed Bath & Beyond, Inc. Bellsouth Corp Best Buy Company, Inc. Discover/develops/manufactures/delivers innovative human therapeutics. Auto Palace, Truckpro, Chief Auto Parts BBB Positive *** Subsidiary of AT&T Inc. BBY Baa2 Stable BBB- Stable BGFV NR NR BJ’s Wholesale Club BJ NR NR *** Blockbuster Entertainment BBI BK BK Blockbuster Video, Blockbuster.com BAMM NR NR American Wholesale Book Company Borders Group, Inc. BGP NR NR *** Bridgestone Corp BRDCY A3 Stable BBB+ Stable CAB NR NR Big 5 Sporting Goods Books A Million Cabela’s Geek Squad, Magnolia Audio Video, Pacific Sales *** NR = No Rating Available Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com STOCK SYMBOL MOODY’S BOND RATING S&P LONG TERM Caterpillar CAT A2 Stable A Stable Cinemark CNK B1 Stable B+ Positive Citi Trends CTRN NR NR Cost Plus CPWM NR NR Cost Plus World Markets CSK Corp CAO NR NR Checker Auto, Kragens, Schuck’s Auto Dell Inc. DELL A2 Stable A- Stable Dick’s Sporting Goods DKS NR NR *** Walt Disney Co. DIS A2 Stable A Stable *** Estee Lauder EL A2 Stable A Stable *** Federal Express FDX Baa2 Positive BBB Stable Furniture Brands Int. FBN NR NR SUBSIDIARIES, OTHER ENTITIES OR COMPANIES ACQUIRED OTHER RETAIL (continued) Game Stop *** Century Theaters, CineArts Tinseltown Citi Trends Fashion For Less Dell Computers Fed Ex/Kinko’s, renamed Fed Ex Office Broyhill, Lane, Thomasville, Drexel Heritage, Henredon GME NR BB+ Stable *** GMTN NR NR *** GPC NR NR Napa Auto Parts, Motion Industries, S.P. Richards GT Ba3 Stable BB- Stable H&R Block HRB NR Harley Davidson Inc HOG NR Home Depot, Inc. HD A3 Stable L.A. Fitness LFS NR Gander Mountain Genuine Parts Company Goodyear Tire & Rubber Co BBB Negative *** NR BBB+ Stable *** NR *** *** La-Z-Boy, Inc. LZB NR NR Lowe’s Companies, Inc. LOW A1 Negative A Stable Kodak Krispy Kreme EK *Moody’s rating withdrawn 11-03 Eagle Hardware Caa2 Negative CCC Negative *** KKD NR B- Stable LVMH NR NR MetroPCS Wireless N/A NR B *** Nike NKE A1 Stable A+ Stable *** Office Depot, Inc. ODP B2 Negative B Stable Office Max OMX B1 Negative B Stable Petsmart PETM NR BB Stable Moody’s Ratings Withdrawn on 11-07 Pier 1 Imports PIR NR NR Moody’s Ratings Withdrawn on 8-07 Radio Shack RSH Ba1 Stable BB Stable *** Regal Entertainment Group RGC B3 Stable B+ Stable Regal Cinema’s, United Artists Theaters, Edwards Theaters Rent A Center Inc. RCII Ba2 Positive BB Stable *** SE Baa1 Stable NR Louis Vuitton/Moet Hennesy Seven - 11 *** Sephora Viking Office Products Copy Max Indirect subsidiary of Seven & I Holdings, Japan NR = No Rating Available Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com STOCK SYMBOL MOODY’S BOND RATING S&P LONG TERM Sherwin-Williams Company SHW A3 Stable A Stable Shell Oil Co RDS Aa2 Stable AA Stable Skechers SKX NR NR SUBSIDIARIES, OTHER ENTITIES OR COMPANIES ACQUIRED OTHER RETAIL (continued) Sonic Automotive Inc. *** *** SAH B1 Stable B+ Positive SPCHA NR NR S Ba3 Negative BB- Neg Staples, Inc. SPLS Baa2 Stable Tiffany & Co TIF NR NR *** Timberland TBL NR NR *** Toys R Us TOY B1 Stable B Pos *** Tractor Supply Company TSCO NR NR *** Sports Chalet Sprint - Nextel Corp Verizon Communications West Marine Williams Sonoma VZ A2 Stable *** Embarq - spin off of local carriers. Ticker EQ, BBB- Stable rating BBB Positive Quill Corp A- Stable *** WMAR NR NR *** WSM NR NR Pottery Barn, Pottery Barn Teen, Pottery Barn Kids, West Elm BANKS/FINANCIAL INSTITUTIONS Bank of New York Mellon BK Aaa Negative BB & T BBT A2 Stable A Stable Barclays Bank PLC BCS Aa3 Negative A+ Stable Bank of America BAC Baa1 Negative A Negative Branch Banking & Trust Co. BBT A1 Stable A+ Stable Capital One Bank (USA) NA COF A3 - PD Citibank NA C A1 Negative A Negative Citigroup C A3 Negative A- Negative *** CYN A1 Stable A- Stable Aa2 Stable A+ Stable A3 Negative A Negative City National Bank Commerce Bank NA AA Negative *** *** *** BBB Negative *** Compass Bank CBSS *** Fifth Third Bancorp FITB Baa1 Stable BBB Stable HSBC Bank PLC HBC Aa3 Negative AA- Stable Lloyds TSB Bank PLC LLOY A1 Rur A Stable JP Morgan Chase Bank NA JPM Aa1 Negative A+ Stable JP Morgan Chase JPM Aa1 Negative A+ Stable *** M & T Bancorp MTB Aaa - mf AAA m *** National City Bank, OH NCC A2 Positive A+ Stable *** *** NR = No Rating Available Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com STOCK SYMBOL MOODY’S BOND RATING S&P LONG TERM SUBSIDIARIES, OTHER ENTITIES OR COMPANIES ACQUIRED BANKS/FINANCIAL INSTITUTIONS (continued) PNC Bank NA PNC A2 Positive A+ Stable RBC Bank USA RY A1 Rur BBB Positive Sovereign Bank SOL A2 Stable A+ Negative Suntrust STI Baa1 Stable BBB Stable Aa2 Negative AA- Stable TD Bank NA Union Bank N.A. *** UBSH A2 Stable A+ Stable *** US Bancorp USB Aa2 Negative AA- Stable *** Parent Company is U.S. Bancorp Wachovia Bank NA WB Aa3 Negative NR Wells Fargo Bank WFB Aa2 Rur Zions Frist Nat’l Bank ZION AA Negative *** Ba3 Positive BBB Negative *** RESTAURANTS (Corporate Backed) BJ’s Restaurants, Inc. Dairy Queen BJRI NR NR *** DQ NR NR Wholly owned subsidiary of Berkshire-Hathaway BOBE NR NR MIMI’S Café, Bob Evans Farms Boddie Noell Enterprises, Inc BNE NR NR Hardee’s Franchisee, Café Carolina & Bakery, Texas Steakhouse & Saloon Brinker International EAT Ba1 Stable BWLD NR NR *** Burger King Corp BKC B2 Negative NR *** California Pizza Kitchen CPKI NR NR *** Carrol’s Restaurant Group TAST NR NR Taco Cabana, Carrow’s, Pollo Tropical and Burger King Franchisee CBRL Group, Inc. CBRL NR CEC Entertainment, Inc. CEC NR NR Chuck E. Cheese’s Pizza The Cheesecake Factory CAKE NR NR *** CKE Restaurants CKR NR B- Stable Darden Restaurants, Inc. DRI Baa2 Stable BBB Stable DineEquity, Inc DIN B2 Stable B Stable Applebee’s, International House of Pancakes DENN B2 Stable B+ Stable *** DPZ NR NR *** NR NR Noah’s Bagels, Manhattan Bagel, New World Coffee Bob Evans Farms, Inc. Buffalo Wild Wings, Inc. Denny’s Corp Domino’s Pizza Einstein Noah Restaurant Gp El Pollo Loco BAGL Private BBB- Stable Chili’s, Macaroni Grill, On the Border Café, Cozymels, Corner Bakery BB- Positive Cracker Barrel Carls Jr. - Green Burrito, Hardee’s - Red Burrito, La Salsa Red Lobster, Olive Garden, Bahama Breeze, Longhorn Steakhouse Caa1 Stable CCC Negative Frisch’s Restaurants FRS NR NR Big Boy, Golden Corral Jack In The Box, Inc. JBX NR NR JBX Grill, Qdoba Mexican Grill, Quick Stuff Landry’s Restaurants LNY B3 Negative B Stable Cadillac Bar, Chart House, Fisherman’s Wharf, The Crab House NR = No Rating Available Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com STOCK SYMBOL MOODY’S BOND RATING S&P LONG TERM SUBSIDIARIES, OTHER ENTITIES OR COMPANIES ACQUIRED RESTAURANTS (Corporate Backed - continued) Max & Emma’s Restaurants MAXE NR NR *** McDonald’s Corporation MCD A2 Stable A Stable *** Morton’s Restaurant Group MRT NR NR *** O’Charley’s CHUX NR B Stable *** OSI Restaurant Partners OSI Caa1 Stable B- Stable Outback Steakhouse, BoneFish Grill, Flemmings, Carrabba’s, etc. Panera Bread Company PNRA NR NR St. Louis Bread Papa John’s International Inc PZZA NR NR Papa John’s Pizza Perkins & Marie Calendar’s PMCI NR P. F. Chang’s China Bistro PFCB NR NR Pei Wei, Taneko Japanese Tavern Rare Hospitality International RARE NR NR Longhorn Steakhouse, Capital Grille Red Robin Gourmet Burgers RRGB NR NR *** Rubio’s Restaurants RUBO NR NR Rubio’s Ruby Tuesday, Inc. RT NR NR Ruby Tuesday’s Sonic Corporation SONC NR NR Sonic Burger Starbucks Corporation SBUX Texas Roadhouse, Inc TXRH NR Wendy’s/Arby’s Group WEN B2 Yum! Brands, Inc. YUM CCC Negative Perkins, Marie Calendar’s Baa3 Positive BBB+ Stable Starbucks Hear Music NR *** B+ Negative New Wendy’s / Triarc-Arby’s Merger Baa3 Stable BBB- Stable Pizza Hut, Taco Bell, KFC, Long John Silvers, A&W Non-Retail Tenants Alcoa, Inc. AA Allstate Corp. ALL Americo Life Inc. Baa3 Stable A3 Stable Private Co Baa3 Stable BBB- Stable World’s leading integrated aluminum company A- Stable BBB- Stable American Electric Power Co. AEP Baa2 Stable BBB Stable Anthem Insurance Companies ATH A1 Stable A+ Stable Aon Corp AOC Apache Corp APA A3 Stable A- Stable Apogent Technologies Inc. AOT NR NR Healthcare Equipment and Supplies Arkansas Best Corp. ABFS NR NR Diversified transportation holding co; ABF Freight System, Inc., their largest subs. Aventis SA SNY NA NR 4th largest pharmaceutical company in the world Baker Hughes Inc. BHI A2 Stable A Stable Services, tools & software for drilling and formation evaluation et al. Baxter International Inc. BAX A3 Stable A+ Stable American healthcare company Bayer Corporation BAY A3 Stable A- Stable Parent Co. - Bayer AG; trademark is Bayer aspirin Boeing Co. BA A2 Negative A Stable Baa2 Stable BBB+ Stable Provider of risk mgnt services, ins.,human resource consulting/outsourcing. Develops/produces natural gas, crude oil, natural gas liquids. NR = No Rating Available Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com STOCK SYMBOL MOODY’S BOND RATING S&P LONG TERM A+ Stable SUBSIDIARIES, OTHER ENTITIES OR COMPANIES ACQUIRED Non-Retail Tenants (continued) Bristol-Myers Squibb Co. BMY A2 Stable Cadbury Holdings Ltd. CBY NR Cardinal Health Inc. CAH Baa3 Stable Cargill Inc. Private Co A2 Stable BBB Positive Cadbury/Schweppes/Canada Dry/Halls/Trident/Dr. Pepper/Snapple/Dentyne BBB Positive A Stable Carlisle Cos. In. CSL Baa2 Stable A Stable Chevron Corp CHTEX Aa1 Stable AA Stable Choice Hotels Int’l. Inc. CHH Baa2 Stable BBB Stable Clorox Company CLX Baa1 Stable BBB+ Stable Coca Cola Co KO Aa3 Stable A+ Stable CMCSA Baa1 Stable BBB+ Stable Comcast Corporation ConAgra Foods Inc. CAG Conoco Phillips Co COP Corning Inc GLW Cox Communications Inc COX Baa2 Stable BBB- Positive COXEP Baa2 Stable BBB- Positive Cox Enterprises Inc A1 Rur A Stable A3 Stable BBB+ Stable CMI Baa2 Stable BBB+ Stable Deere & Co DE A2 Stable A Stable DTE Energy Company DTE Baa2 Stable BBB+ Stable Du Pont (E.I.) De Nemours DD A2 Stable A Stable Ecolab, Inc ECL A2 Rur A Stable ELUXB NR BBB+ Positive Electronic Data Systems LLC EDS A2 Negative NR Eli Lilly & Co. LLY A2 Stable AA- Stable Exelon Corp EXC Baa1 Rur BBB Stable Exxon Mobil Corp XOM Aaa Stable AAA Stable AZ A2 Stable A+ Stable FISV Baa2 Stable BBB- Stable Fortune Brands Inc. FO Baa3 Rur BBB Stable Firemans Fund Insurance Co Fiserv Inc Chain of hotels, i.e, Clarion, Comfort Inn, Extended Stay, et al Baa2 Stable BBB Negative Cummins Inc Elextrolux AB Int’l. producer/marketer of food, agricultural, fin./ind. prod .& serv. General Dynamics Corp GD A2 Stable A Stable General Electric Co GE Aa2 Stable AA+ Stable General Electric Capital Corp GEJ Aa2 Stable AA+ Stable Glaxosmithkline PLC GSK A1 Stable A+ Stable NR = No Rating Available Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com STOCK SYMBOL MOODY’S BOND RATING S&P LONG TERM A2 Stable A Negative SUBSIDIARIES, OTHER ENTITIES OR COMPANIES ACQUIRED Non-Retail Tenants (continued) Halliburton Co HAL Harris Corp HRS Hartford Financial SVCS Grp Inc HIG Baa3 Stable BBB Stable Hewlett-Packard Co HPQ A2 Stable A Stable Household Finance Corp HTB A3 Negative NR Humana Inc HUM Baa3 Stable BBB Stable Illinois Too Works Inc ITW A1 Stable A+ Stable Indiana Gas Co Inc INNG A3 Stable A- Stable Intel Corp INTC A1 Stable A+ Stable IBM Corp IBM Aa3 Stable A+ Stable ITT Corp ITT Baa1 Rur BBB+ Negative Kansas City Power & Light Co KLT Baa2 Stable BBB Stable Baa2 Positive BBB+ Stable Kellogg Co KO A3 Stable BBB+ Stable Keycorp KEY Baa1 Stable BBB+ Stable AHONY Baa2 Stable BBB Stable Leggett & Platt Inc LEG Baa1 Stable BBB+ Stable Marriott Int’l Inc MAR Baa2 Stable BBB Stable McGraw-Hill Cos. Inc MHP A3 Negative NR Medtronics Inc MDT A1 Negative AA- Stable Merck & Co. nc MRK A1 Stable AA+ Stable Metlife Inc MET A3 Stable A- Negative Koninklijke Ahold NV Michael Stores Inc MIK B3 Positive B- Positive MSBHY A1 Stable A+ Stable Motiva Enterprises LLC same A2 Stable A Stable Motorola Solutions Inc MOT Baa2 Stable BBB Stable NSRFG Aa1 Stable AA Stable New Cingular Wireless Serv. AWE A2 Rur NR Nokia NOK Mitsubishi Corp Nestle SA Northeast Utilities NU Baa2 Negative BBB+ Negative Baa2 Stable BBB+ Positive Northern Trust Corp NTRS Aa3 Stable AA- Stable Northrop Grumman Copr NOC Baa1 Stable BBB+ Stable Northwestern Mutual Life Ins NML Aaa Stable AAA Negative Pearson PLC PSO Baa1 Stable BBB+ Stable Perkin Elmer PKI Baa3 Rur BBB Stable Acquired by EG & G Inc. - March 2011 NR = No Rating Available Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com STOCK SYMBOL MOODY’S BOND RATING S&P LONG TERM Pepsico Inc PEP Aa3 Stable A Stable Pfizer Inc PFE A1 Stable AA Stable Pitney Bowes Inc PBI A2 Negative BBB+ Stable Principal Financial Grp PFG Baa1 Stable BBB Positive Principal Life Ins. Co PFG Baa3 Stable A Positive Progress Energy Inc. PGN Baa2 Stable BBB+ Positive SUBSIDIARIES, OTHER ENTITIES OR COMPANIES ACQUIRED Non-Retail Tenants (continued) Qwest Communications Intl. Q Baa3 Negative NR Ralcorp Holdings, Inc RAH Baa3 Stable BBB- Negative Raytheon Co RTN Baa1 Stable A- Stable Rockwell Collins Inc COL A1 Stable A Stable Royal Caribbean Cruises Ltd. RCL Ba1 Stable BB Stable Royal Dutch Shell PLC RD Aa1 Stable AA Stable R Baa1 Stable BBB+ Stable SAFC Baa2 Stable BBB- Stable SLE Baa1 Rur BBB Stable SI A1 Positive A+ Positive Ryder System Inc. Safeco Corp Sara Lee Corp Siemens AG Solvay SA SVYSF Baa2 Negative A- Negative Sonoco Products Co SON Sony Corp SNE A3 Stable A- Negative Starwood Hotels & Resorts HOT Ba1 Positive BB+ Stable no public trade Aa1 Stable AA Stable Stryker Corp SYK A3 Stable A+ Stable Sysco Corp SYY A1 Stable A+ Stable Takeda Pharmaceutical Co. Ltd TSE Aa3 Stable AA Negative Textron Inc TXT Baa3 Stable BBB- Stable Time Warner Inc. TWX Baa2 Stable BBB Stable Tosco Corp COP A1 NR Tyco International Ltd TYC NR A- Stable A1 Stable A+ Stable State Farm Life Insurance Co Unilever PLC UL Baa2 Stable BBB+ Positive Union Pacific Corp. UNP United Parcel Service, Inc UPS Aa3 Stable AA- Stable United Heath Group Inc. UNH A3 Stable A- Stable Valero Energy Corp VLO Baa2 Stable BBB Stable VF Corp VFC A3 Stable A- Negative Viacom Inc VIA Baa1 Stable BBB+ Stable Merged with Phillips Petroleum, then Conoco, /7 become Conoco Phillips; Circle K, Union 76 Baa2 Positive BBB+ Stable NR = No Rating Available Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com MOODY’S BOND RATING STOCK SYMBOL S&P LONG TERM SUBSIDIARIES, OTHER ENTITIES OR COMPANIES ACQUIRED Non-Retail Tenants (continued) Vodafone Group PLC VOD A3 Stable A- Stable Volkswagen AG VOW A3 Positive A- Stable Walt Disney Co. DIS A2 Stable A Stable Waste Management Inc WMI Baa3 Positive BBB Stable Wegmans Food Markets Inc Private Co West Penn Power NR no symbol Baa2 Stable BBB+ Stable formerly known as Rochester Fruit & Vegetable Co. BBB- Stable Williams Cos Inc WMB Xerox Corp XRX Baa2 Positive BBB- Stable no symbol Aa3 Stable AA- Stable Zurich Insurance Co Inc. aka Hatfield’s Ferry Power Station Baa3 Negative BBB- Positive An Energy Company NR = No Rating Available This data is for general information purposes only. Alex Chenarides and/or Barry Slatt Mortgage Company can not be held responsible for the accuracy of this information. All parties should verify details and ratings independently Barry S. Slatt Mortgage Co. Alex Chenarides | Executive Director 11111 Santa Monica Boulevard | Suite 350 Los Angeles CA 90025 phone 562.225.2911 alexc@slatt.com www.slatt.com Alex Chenarides | Executive Director Barry Slatt Mortgage Co. 11111 Santa Monica Boulevard | Suite 350 Santa Monica CA 90025 phone 562.225.2911 alexc@slatt.com