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Track tenant credit quality, ratings changes, and financial performance trends
| Asset / Name | Sector | Risk Level | Signal | 24h Change |
|---|---|---|---|---|
| Walgreens Boots Alliance (WBA) | Pharmacy/Retail | Medium | Earnings Miss | -14.2% |
| CVS Health (CVS) | Pharmacy/Retail | Medium | Stable | +2.1% |
| Bed Bath & Beyond (BBBY) | Specialty Retail | High | Restructuring | -68.5% |
| Planet Fitness (PLNT) | Fitness | Low | Strong Growth | +18.3% |
| Rent-A-Center (RCII) | General Merchandise | Medium | Watch | -5.2% |
The NNN portfolio credit profile remains stable with 87% investment-grade tenants and weighted average rating of A-. Year-to-date credit trends show 12 downgrades versus 8 upgrades, reflecting mixed economic environment. Key concerns centered on traditional retail (Walgreens continuing margin pressure, Bed Bath bankruptcy filing) while essential services and growth retailers (Planet Fitness, Ulta Beauty) demonstrate strength. Default rate remains minimal at 0.8% of portfolio. Investment-grade quality provides significant cushion against economic headwinds. Monitoring acute risks in legacy retail cohort while positioning for strong fundamentals in discretionary categories.
Credit monitoring combines S&P/Moody's ratings (60% weight), financial statement analysis including leverage ratios and liquidity (25% weight), and transaction/market comparables (15% weight). Portfolio score calculated as weighted average of individual tenant ratings mapped to numeric scale (AAA=1, D=10). Risk score reflects both current state and 12-month trend. Watchlist includes tenants with (1) recent downgrade activity, (2) negative earnings surprises, (3) industry headwinds, or (4) significant stock price declines. Monthly monitoring with quarterly in-depth analysis.
The data, risk scores, and analysis on this page are for informational and educational purposes only. They do not constitute investment advice, credit analysis, or a recommendation to buy or sell any security. Risk scores are illustrative estimates based on publicly available information and should not be relied upon as the sole basis for investment decisions. Credit ratings referenced are sourced from public company filings and may not reflect the most current agency ratings. Company names are used for illustrative purposes; their inclusion does not imply any specific investment recommendation or prediction of financial distress. Always consult licensed financial professionals and primary data sources (S&P Global, Moody's, Fitch, SEC EDGAR) before making investment decisions.