News Release

Apr. 01, 2020

KOKUSAI PULP&PAPER Announces Acquisition of Largest Paper Trader in Europe - No Immediate Impact on Rating But Attention to Be Paid to Future SynergiesNEW

JCR Affirmed A+ Rating on Daiwa Securities Living Investment; Revised Outlook from Stable to PositiveNEW

JCR Affirmed J-1 Rating on CP of Mitsui Mining and Smelting; Increase in CP Maximum AmountNEW

JCR Affirmed J-1+ Rating on CP of TOKYU; Increase in CP Maximum AmountNEW

JCR Assigned A-/Stable Long-term Issuer Rating to Chuo-Nittochi Group
JCR Affirmed A-/Stable, A-, Preliminary A- and J-1 on NIPPON TOCHI-TATEMONONEW

JCR Affirmed J-1 Rating on CP of BOT Lease; Decrease in CP Maximum AmountNEW

JCR Assigned J-1+ Rating to CP of East Japan RailwayNEW

JCR Assigned Preliminary A Rating to Shelf Registration of Japan AirlinesNEW

JCR Affirmed AA-/Stable, AA-, A, Preliminary AA- and J-1+ on Tokyo Century
JCR Affirmed AA-/Stable and J-1+ on NIPPON CAR SOLUTIONS
JCR Affirmed J-1 Rating on CP of Orico Auto Leasing
JCR Affirmed AA-/Stable and J-1+ on FUJITSU LEASING
JCR Affirmed J-1 Rating on CP of IHI Finance SupportNEW

JCR Withdraws AA/Stable Long-term Issuer Rating on Kokugakuin UniversityNEW

Mar. 31, 2020

JCR Assigned Green 1 (Final Evaluation) to 3rd Unsecured Bond issued by Mitsubishi Electric Credit

JCR Assigned Green 1 to Trust Beneficiary Rights 202003 (Contract No. 210246)

JCR Provided a Third Party Opinion on Sustainability Linked Loans to COSMO ENERGY HOLDINGS

JCR Assigned BBB+ Rating to Subordinated Loan of DIC

JCR Assigned BB+ Rating to Subordinated Loan of COSMO ENERGY HOLDINGS

JCR Assigned AAA to Bonds of NTT FINANCE

JCR Assigned A- to Ecology Trust Bond 2nd Series Fund Trust Bonds and Trust ABL

[ Asset Securitization Products ] JCR Assigned AAA to Class A Beneficial Interest 202003

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Electronically Recorded Receivable ABL 20-03

JCR Withdraws BBB+/Stable Long-term Issuer Rating on SATO HOLDING

JCR Withdraws A/Stable Long-term Issuer Rating on TOMAKOMAI SHINKIN BANK

Mar. 30, 2020

Expansion of Novel Coronavirus Infection and Japanese Corporations - Uncertainty about Real Economy is Different from that at time of Financial Crisis due to Lehman Brothers Bankruptcy

JFE Holdings' Downward Revisions to Financial Results Forecasts - No Immediate Impact on Rating, but JCR Will Closely Watch Future Business Trend

JCR Assigned Preliminary A+ Rating to Shelf Registration of Denka

JCR Affirmed BBB+/Stable and BBB+ on NAGATANIEN HOLDINGS

JCR Affirmed AA/Stable, AA and A+ on DAIWA HOUSE INDUSTRY

JCR Affirmed A/Positive and A on NIFCO

JCR Affirmed BBB+/Stable and J-2 on MARUDAI FOOD

JCR Affirmed AAA/Stable Long-term Issuer Rating on Kyushu University

JCR Affirmed AA-/AA-(FC/LC) Ratings on Slovenia with Stable Outlook

[ Asset Securitization Products ] JCR Assigned AAA to Grass Park Beneficial Interest Series 2

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL 20-03

Mar. 27, 2020

JXTG Holdings Revises Down Results forecasts - No Immediate Impact on Rating But Attention to Be Paid to Future Performance Trends

JCR Assigned Green 1 (Final Evaluation) to Daiwa Green Finance Program Trust Beneficiary Interests

JCR Assigned Green 1 (Final Evaluation) to Daiwa Green Finance Program Trust ABL

JCR Assigned A to Daiwa Green Finance Program Beneficial Interest and Trust ABL (Iwamizawa and Kushiro Solar Power Plants)

JCR Assigned Preliminary A Rating to Shelf Registration of POCKET CARD

JCR Affirmed AA/Stable Long-term Issuer Rating on NITTO DENKO

JCR Affirmed AA+/Stable Long-term Issuer Rating on SECOM

JCR Affirmed A/Stable, A and J-1 on Sanyo Special Steel

JCR Affirmed A-/Stable, A-, Preliminary A- and J-1 on Orient Corporation

[ Asset Securitization Products ] JCR Assigned J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 20-03

Mar. 26, 2020

JCR Assigned Green 1(F) to Green Finance Framework of GPSS Holdings

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to SUBARU

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to Sumitomo Forestry

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to Toyo Aluminium

JCR Affirmed A-/Stable and A- on SENKO Group Holdings

JCR Affirmed A/Stable on America Movil

JCR Affirmed A/Stable Long-term Issuer Rating on Nanto Bank

JCR Affirmed AAA Rating on Asian Development Bank with Stable outlook

JCR Affirmed AA-/Stable, AA- and Preliminary AA- on AEON REIT Investment Corporation

Mar. 25, 2020

Mitsui Sugar and Dai-Nippon Meiji Sugar Started Talks on Business Integration - JCR will Examine Progress of Talks to be Reflected in Mitsui Sugar's Rating

Marubeni's Downward Revisions to Earnings Forecasts - No Immediate Impact on Rating, but JCR Will Pay Attention to Future Financial Improvement

Mar. 24, 2020

SoftBank Group's JPY 4.5 Trillion Program - Limited Impact on Rating

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to Sumitomo Metal Mining

JCR Provided a Third party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to Nippon Paper Industries

JCR Affirmed A-/Stable Long-term Issuer Rating on SANKYO

JCR Affirmed A+/Stable Long-term Issuer Rating on Yokogawa Electric

JCR Affirmed BBB+/Stable Long-term Issuer Rating on IINO KAIUN

JCR Affirmed A/A+ (FC/LC) Ratings with Stable Outlook and A bonds Ratings on Poland

Mar. 23, 2020

JCR Assigned Social 1 to Bonds Issued by Real Estate Fund Arranged by Bridge C Capital Inc.

JCR Affirmed A and J-1 on Mortgage Corporation of Japan; Revised Outlook from Stable to Positive

JCR Assigned A-/Stable Long-term Issuer Rating to KYOEI STEEL

JCR Affirmed AA-/Stable, AA- and Preliminary AA- on Kenedix Office Investment Corporation

[ Asset Securitization ]JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 20-03

[ Asset Securitization ]JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 20-03

Mar. 19, 2020

JCR Assigned AAA Ratings to Bonds of African Development Bank

JCR Assigned A Rating to Bonds of Ichigo Office REIT Investment Corporation

JCR Affirmed AA-/Stable Long-term Issuer Rating on HAMAMATSU PHOTONICS

JCR Affirmed A/Stable Long-term Issuer Rating on Aica Kogyo

JCR Affirmed A+/Stable and A on SHIGA BANK

JCR Affirmed BBB/Stable Long-term Issur Rating on TOTTORI BANK

JCR Affirmed BBB+ Ratings on ICICI Bank with Stable Outlook

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL20-03 (F Hospital)

Mar. 18, 2020

JCR Upgraded Rating on HASEKO from A/Positive to A+/Stable

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL20-03 (D Hospital)

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (Ginnankai)

Mar. 17, 2020

JCR Affirmed A/Stable, A and Preliminary A on NICHIAS

JCR Affirmed A-/Stable and A- on Shibusawa Warehouse

JCR Affirmed AA/Stable and AA on Frontier Real Estate Investment Corporation

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (E Hospital)

Mar. 16, 2020

JCR Assigned Preliminary A Rating to Bonds of Topre

JCR Affirmed A/Stable Long-term Issuer Rating on AIN HOLDINGS

JCR Affirmed A+ Rating on KKR & Co. with Stable Outlook

JCR Affirmed A+ Ratings on the Bonds Issued by KKR Group Finance Co. IV

Mar. 13, 2020

JCR provided a third party opinion on Sustainability Linked Loans to Sumitomo Heavy Industries, Ltd.

JCR Assigned Green 1 (Preliminary) to Alma Diode Solar Green Project Bond Trust (Shimane) Trust Beneficial Rights

JCR Assigned Green 1 (Preliminary) to Alma Diode Solar Green Project Bond Trust (Shimane) Trust ABL

JCR Assigned A Rating to Bonds of Japan Airlines

JCR's Rating Review of General Construction Companies

JCR Affirmed AA-/Stable, AA- and Preliminary AA- on TAISEI

JCR Affirmed AA-/Stable Long-term Issuer Rating on OBAYASHI

JCR Affirmed AA-p/Stable Long-term Issuer Rating on SHIMIZU

JCR Affirmed BBB+/Stable Long-term Issuer Rating on SCREEN Holdings

Mar. 12, 2020

JCR Assigned AA- Rating to Bonds of SoftBank

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Affirmed A/Stable Long-term Issuer Rating on TOMAKOMAI SHINKIN BANK

JCR Affirmed AAA(FC/LC) on United Kingdom with Negative Outlook

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 20-03

Mar. 11, 2020

JCR Downgraded Rating on NIPPON CHEMI-CON from BBB+/Negative to BBB/Negative