UP TO 125% LOAN TO VALUE
INVESTMENT GRADE CREDIT TENANT FINANCING
BUILT TO SUIT FINANCING

Which "credit tenants" qualify for Doctor Mortgage financing?
Doctor Mortgage financing for properties which are net leased to investment grade tenants (rated BBB- or higher).  In addition, Doctor Mortgage will consider on a case-by-case basis making Doctor Mortgage loans to borrowers with tenants rated BB or BB+.   Listed below are typical credit tenants which would qualify for Doctor Mortgage financing (assuming an acceptable lease).  Please note, however, that the list displayed below is not meant to be exhaustive but rather is a guide to the types of credits we finance.

 

Is it possible for a tenant to qualify for Doctor Mortgage's numerous Doctor Mortgage financing programs if it does not have a credit rating?
Periodically Doctor Mortgage assists borrowers obtain "shadow ratings" for public corporations which are unrated but are financially strong.  Assuming Standard & Poor's rates the unrated credit of such a corporation as BBB- or better, the credit tenant would then qualify for Doctor Mortgage's program.  Since the rating agencies continuously review the financial performance of the credit tenants whose leases make up the collateral for the securitized pools, it is difficult to obtain a shadow rating for private companies whose financial statements are not made public on an annual basis.  The rating agencies charge an annual fee to review non-rated companies.   Doctor Mortgage passes this cost on to the borrower as a one-time, upfront fee at closing.

Typical Credit Tenants Financed by Doctor Mortgage

Typical Investment Grade Tenants (BBB- and up)

The following is a list of some commonly seen Investment Grade Companies and their ratings.If you have questions about a company not on this list, please call Lichtenstein Capital Markets at 800-242-9888.

 

Investment Grade Company

Senior Unsecured Debt*

Credit Watch
Ahold
  • Finast
  • Tops
  • Edward's
  • BiLo
  • Stop & Shop
  • Giant
 BBB+  
Airborne Inc. BBB+  
Albertson's, Inc. BBB+  
American Stores Co. BBB+  
Arco Pipeline Co. AA+  
Arrow Electronics, Inc. BBB  
Bed, Bath & Beyond BBB-  
Bestfoods A+  
BJ's Warehouse Investment GradeRating Implied **  
Boeing Co. AA-  
Carnival Corp. A  
Central Telephone Co. BBB+  
Chrysler Corp. A  
CNF Transportation, Inc.
  • Emery Airfreigh
 BBB  
Coastal Corp. BBB+  
Coca Cola Bottling Co. BBB  
Coca Cola Co. A+  
Colgate-Palmolive Co. A+  
Comcast Corp. BBB  
COMSAT Corp. BBB-  
ConAgra, Inc. BBB+  
Consolidated Edison of NY A Negative
Costco A  
CVS A  
Detroit Edison BBB+  
Diageo, PLC
  • Burger King
 A+  
Dillards BBB-  
Eastman Kodak Co. A+  
Emery Air Freight(w/o CNF Transportation Guaranty) BBB  
Exxon Mobil Corp. AAA  
Federal Express Corp. BBB  
Federated Department Stores BBB+  
Fleet Bank, N.A. A+  
Florida Power & Light AA- Negative
Delhaize America, Inc.
  • Food Lion, Inc.
  • Kash 'N Karr
 BBB-  
Ford Motor Credit A  
Four Season Hotels, Inc. BBB-  
GAP, Inc. A  
General Electric Co. AAA  
General Motors Corp. A  
Gillette Co. AA  
Goodyear BBB  
GTE Corp. A+  
Harcourt General BBB Positive
Health Care Service Corp. of
  • Illinois
  • Texas
 AA  
HEALTHSOUTH Corp. BBB-  
Hertz Corp. A- Positive
Hibernia National Bank BBB+  
Hilton Hotels Corp. BBB-  
Home Depot, Inc. AA  
Homeside Inc. A+  
Illinois Power Co. BBB+ Negative
International Paper Co. BBB+  
J.C. Penney BBB-  
J.P. Morgan Chase & Co. AA-  
Key Bank A  
Kohl's Corp. A-  
Kroger Co. BBB-  
The Limited, Inc. BBB+  
Lowe's Companies, Inc. A  
Marks & Spencer PLC parent of Brooks Brothersmen's clothing stores as of 1/10/2001 senior unsecured AA outlook negative
Marriott International, Inc. BBB+  
McDonald's Corp. AA  
McDonnell Douglas Corp. AA-  
National City Bank A+  
Nationwide Health Properties BBB-  
Nationwide Financial Services
  • Nationwide Mutual
 A  
     
NatWest Bank AA-  
Newell Rubbermaid, Inc. A  
The New York Times A+  
Niagra Mohawk Power Corp. BBB Positive
NY State Electric & Gas A- Negative
Office Depot, Inc BBB-  
Pier 1 Imports BBB-  
Public Storage A-  
Publix (Supermarkets) Investment GradeRating Implied **  
Quaker Oats Co A- Positive
Questar Pipeline Co. A+  
RadioShack Corp. A-  
Raytheon BBB-  
Safeway, Inc. BBB  
J. Sainsbury, PLC
  • Shaw's Supermarkets
 A  
St. Paul's Insurance company as of 7/15/2000 A+  
Sara Lee Corp. AA-  
Schering Plough Corp. AA  
Scott Paper Co. AA  
Sealed Air Corp. BBB  
Sears Roebuck & Co. A-  
7 Eleven, Inc. as of 1/2001 bbb- stable
Smithfield Foods Inc. BBB-  
Smithkline Beecham AA  
Sony Corp. A+  
Sprint Corp. BBB+  
Staples, Inc. BBB-  
Sterling Jewelers, Inc. BBB-  
Storage USA, Inc. BBB  
SuperValu, Inc. BBB+ Negative
Tandy Corp. (RadioShack Corp.) A-  
Target A  
Texaco, Inc. A+ Positive
Times Mirror Co. A  
TJX Companies, Inc.
  • T.J. Maxx
  • Marshalls
 A-  
Toys "R" Us - Kids "R" Us BBB+  
Transok, Inc. BBB+  
Union Pacific Corp. BBB-  
United Telephone Co. of Ohio BBB+  
Universal Health Services BBB-  
Verizon Communications Inc. A+  
Viacom, Inc.
  • Blockbuster Entertainment Corp.
  • CBS Inc.
 A-  
Walgreen Co. A+  
Wal-Mart Stores, Inc. AA  
Wells Fargo & Co. A+  
Wendy's International, Inc. BBB+  
Winn-Dixie Stores, Inc. BBB-  
Yellow Freight System BBB  
Zale Corp. BBB-  

Typical Sub-Investment Grade Credits ( BB+ and under)

The following are a small number of commonly seen Sub-Investment Grade Companies and their ratings.Lichtenstein Capital Markets will consider on a case-by-case basis financing properties net leased to these tenants.If you have questions about a company not on this list, please callLichtenstein Capital Markets at 800-242-9888.

 
Advanta National Bank BB
A&P BB Negative
Barnes & Noble, Inc. BB
Best Buy Sub-Investment Grade Rating Implied **
Boyd Gaming Corp. BB
Cablevision Systems Corp. BB+
Circuit City Sub-Investment Grade Rating Implied **
Columbia HCA BB+
COMP USA Inc. BB
Federal-Mogul Corp. BB+
Ingles Markets, Inc. BB Negative
ITT Corp. BB+
K-Mart Corp. BB+
Ohio Edison Co. BB+ Positive
Owens-Illinois, Inc. BB
Pep Boys BB-
Phycor, Inc. BB
Quality Food Centers, Inc. BB+
Reliance Insurance Company Phil, PA as of 7/15/2000 B negative watch
Perkins Restaurants name change 6/14/2000 to "The Restaurant Company" B+ stable
Saks, Inc. BB+
Sea Containers, Ltd. BB+ Negative
Shaws BB+ (Equiv)**
Shopko Stores, Inc. BB+ Negative
Sterling Jewelers Inc. BB+
Tenet Healthcare Corp. BB+
TLC Beatrice International BB+
Venator Group, Inc.
(Woolworth Corp.) 		BB Negative
Warnaco Group, Inc. BB
Zale Corp. BB+

* Unless otherwise noted, ratings are from S & P's Ratings Handbook February 2001.
** Certain credits do not carry a senior unsecured rating either because they have no long term debt, are subsidiaries of a rated company, or chose not to be rated. Determines how the market perceives these non-rated credits.
For more information about financing build to suit, net lease, sale leaseback, corporate financing etc. contact Lichtenstein Capital Markets 1-800-242-9888

 

If you are looking for a particular tenant and it is not listed above, Standard & Poor's will accept direct inquiries of up to 5 ratings per submission. If your request is urgent, call our office at 1-800-242-9888 to receive your up to 125% financing and the lowest possible rates.

DoctorMortgage(r).com   Toll Free Number:1-800-242-9888   E-mail: DoctorMortgageTM@aol.com