JapanÂ's real estate companies have shown progress in restructuring their assets, so profitability is the near-term key for their creditworthiness, Standard & PoorÂ's said in a report released Thursday.
Although they are still pressured by high levels of interest rate bearing debt, their assets are now healthy, the ratings agency said.
'For an improvement in their credit quality, a reinforcement of profitability is the focus from now on,' S&P said. 'WeÂ'll closely monitor how each company devises a business strategy that doesnÂ't rely on an economic recovery or rises in land prices.'
(source: Dow Jones Business News)