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Credit Ratings

as of April 19, 2017

Credit Rating Agency Rating Type Remarks
Japan Credit Rating Agency, Ltd. Long-term issuer rating: A Rating outlook :Stable
(Note) The above rating is the issuer rating granted to NIPPON REIT, and not a rating granted to its investment units. Furthermore, the investment units have no credit rating that have been or will be granted or submitted for inspection by any rating agency at the request of NIPPON REIT.

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