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NET LEASE TENANT CREDIT RATINGS

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Parent Company

Sector

Ticker Symbol

S&P2

S&P Outlook

Moody's

Moody's Outlook

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Parent Company:

Alimentation Couche-Tard

Sector:

Convenience Store

Ticker Symbol:

S&P2:

ANCUF

BBB

S&P:

Stable

Moody's:

Moody's Outlook:

Baa2

Stable

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Parent Company:

Costco Wholesale Corp

Sector:

Big Box

Ticker Symbol:

S&P2:

COST

A+

S&P:

Stable

Moody's:

Moody's Outlook:

Aa3

Stable

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Parent Company:

DaVita Inc.

Sector:

Healthcare

Ticker Symbol:

S&P2:

DVA

BB

S&P:

Negative

Moody's:

Moody's Outlook:

Ba2

Stable

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Parent Company:

Berkshire Hathaway

Sector:

Quick Service Restaurant (QSR)

Ticker Symbol:

S&P2:

BRK.A

AA

S&P:

Stable

Moody's:

Moody's Outlook:

Aa2

Stable

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Parent Company:

Denny's

Sector:

Casual Dining

Ticker Symbol:

S&P2:

DENN

NR

S&P:

Moody's:

Moody's Outlook:

NR

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Parent Company:

Dollar General Corp.

Sector:

Discount Store

Ticker Symbol:

S&P2:

DG

BBB

S&P:

Stable

Moody's:

Moody's Outlook:

Baa2

Stable

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Parent Company:

Dollar Tree, Inc.

Sector:

Discount Store

Ticker Symbol:

S&P2:

DLTR

BBB-

S&P:

Stable

Moody's:

Moody's Outlook:

Baa3

Positive

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Parent Company:

Bain Capital Inc.

Sector:

Quick Service Restaurant (QSR)

Ticker Symbol:

S&P2:

DPZ

NR

S&P:

Moody's:

Moody's Outlook:

NR

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Parent Company:

Dunkin' Brands

Sector:

Quick Service Restaurant (QSR)

Ticker Symbol:

S&P2:

DNKN

B+

S&P:

Stable

Moody's:

Moody's Outlook:

B3

Stable

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Parent Company:

First Republic Bank

Sector:

Financial Services

Ticker Symbol:

S&P2:

FRC

A-

S&P:

Stable

Moody's:

Moody's Outlook:

A1

Stable

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Parent Company:

Fresenius Medical Care AG & Co. KGaA

Sector:

Healthcare

Ticker Symbol:

S&P2:

FMS

BBB

S&P:

Stable

Moody's:

Moody's Outlook:

Baa3

Stable

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Parent Company:

Grocery Outlet Holding Corp.

Sector:

Grocery

Ticker Symbol:

S&P2:

GO

B-

S&P:

Stable

Moody's:

Moody's Outlook:

B1

Positive

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Parent Company:

Dine Brands Global

Sector:

Casual Dining

Ticker Symbol:

S&P2:

DIN

NR

S&P:

Moody's:

Moody's Outlook:

NR

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Parent Company:

Jack in the Box Inc.

Sector:

Quick Service Restaurant (QSR)

Ticker Symbol:

S&P2:

JACK

NR

S&P:

Moody's:

Moody's Outlook:

NR

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Parent Company:

The Kroger Co.

Sector:

Grocery

Ticker Symbol:

S&P2:

KR

BBB

S&P:

Stable

Moody's:

Moody's Outlook:

Baa1

Stable

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Parent Company:

Lowe's Companies, Inc.

Sector:

Big Box

Ticker Symbol:

S&P2:

LOW

BBB+

S&P:

Stable

Moody's:

Moody's Outlook:

Baa1

Stable

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Parent Company:

McDonald's Corp.

Sector:

Quick Service Restaurant (QSR)

Ticker Symbol:

S&P2:

MCD

BBB+

S&P:

Negative

Moody's:

Moody's Outlook:

Baa1

Stable

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Parent Company:

Genuine Parts Company

Sector:

Automotive

Ticker Symbol:

S&P2:

GPC

NR

S&P:

Moody's:

Moody's Outlook:

NR

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