At least its pile of cash and pristine balance sheet and bond credit rating has not been affected.

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The deal visibly improved its cash flow and balance sheet, lifting its credit rating and helping reduce borrowing costs.

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"Management at Merrill Lynch is focusing on the right issues for the rating: liquidity, capital and derisking the balance sheet, " said Peter Nerby, senior vice president at Moody's.

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It is widely believed that using guarantees to increase the firepower of the EFSF in either of these ways would impose so much additional strain on France's public-sector balance sheet that France is likely to lose its cherished AAA rating - which would then make the eurozone even more dependent on the financial strength of Germany.

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Liabilities such as these, as well as pressure from credit-rating agencies, have led to an overhaul of Vivendi's balance sheet.

ECONOMIST: Vivendi Universal

In fact, Tractor Supply is the only non-rated tenant and the company does not carry enough debt on its balance sheet to be rated. (effectively meaning an investment grade shadow rating would result in a portfolio that is 100 percent investment grade rated credit).

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