OREANDA-NEWS. Fitch Ratings has published a new report on the key peer comparator elements for U.S. equity real estate investment trusts (REITs) and real estate operating companies (REOCs).

The sector risk profile defines and groups companies operating in the sector into a 'natural rating territory' based on Fitch's view of the inherent risk profile of the industry. Each company's overall risk profile generally does not stray too far from this rating range.

After assessing the operating environment, then management and corporate governance, the Navigator examines four sector-specific business profile factors for given rating levels. Sector-specific key factors include property portfolio, rental income risk profile, asset-liability matching and access to capital. Finally, three financial profile factors, including profitability, financial structure and financial flexibility, help capture financial attributes commensurate with particular rating categories.

The report, titled 'U.S. Equity REITs and REOCs: Ratings Navigator Companion' is available at www.fitchratings.com or by clicking the link below. This report should be read in conjunction with the 'Introducing Rating Navigators for Corporates' report dated Nov. 5, 2014.