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REITs and REOCs – US

2021 Outlook negative with retail, lodging weakness

“We expect operating conditions will remain challenging for most REITs through the first half of 2021 and then show gradual improvement over the latter part of the year, assuming effective pandemic management. Sustained weakness will have a greater impact on certain high-risk sectors like retail, lodging, and senior housing, which we expect to face more protracted roads to recovery”
Tori Marks
Vice President -Senior Credit Officer
Moody's Investors Service