The Viridian Credit Tracker utilizes 11 different bespoke credit ratios to evaluate four aspects of credit quality: Liquidity, Leverage, Profitability, and Size. We are looking at the extreme quartiles of our ratios to identify credit stresses. Interestingly, the credit stats of the Real Estate group do not seem to have deteriorated.  Total liabilities/ assets remains unchanged from last year at .3x and the sectors profitability as measured by funds from operation to total assets has actually improved from 4% to 5%.  Still, we are watching for signs of portfolio deterioration at these companies as anecdotally, cannabis companies struggle to preserve liquidity.