Rating Action: Moody's withdraws its ratings for Nippon Accommodations FundInc.
Global Credit Research - 01 Dec 2017
Tokyo, December 01, 2017 -- Moody's Japan K.K. has withdrawn its A3 long-term issuer rating and the issuer's
stable outlook, of Nippon Accommodations Fund Inc. for its own business reasons.
RATINGS RATIONALE
This action does not reflect a change in the company's creditworthiness.
Moody's has decided to withdraw the rating for its own business reasons. Please refer to the Moody's InvestorsService's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.
Nippon Accommodations Fund Inc., listed on the Tokyo Stock Exchange in August 2006, is a J-REIT thatmanages and invests in residential properties.
REGULATORY DISCLOSURES
For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of thiscredit rating action, and whose ratings may change as a result of this credit rating action, the associatedregulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following
disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from ratedentity.
Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related
rating outlook or rating review.
Moody's Japan K.K. is a credit rating agency registered with the Japan Financial Services Agency and its
registration number is FSA Commissioner (Ratings) No. 2. The Financial Services Agency has not imposed
any supervisory measures on Moody's Japan K.K. in the past year.
Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal
entity that has issued the rating.
Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosuresfor each credit rating.
Akifumi Fukushi
Vice President - Senior Analyst
Corporate Finance Group
Moody's Japan K.K.
Atago Green Hills Mori Tower 20fl
2-5-1 Atago, Minato-ku
Tokyo 105-6220
Japan
JOURNALISTS: 81 3 5408 4110
Client Service: 81 3 5408 4100
Mihoko Manabe
Associate Managing Director
Corporate Finance GroupJOURNALISTS: 81 3 5408 4110
Client Service: 81 3 5408 4100
Releasing Office:
Moody's Japan K.K.

Atago Green Hills Mori Tower 20fl
2-5-1 Atago, Minato-ku
Tokyo 105-6220
JapanJOURNALISTS: 81 3 5408 4110
Client Service: 81 3 5408 4100

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