News Release

Nov. 29, 2023

Nippon Life Acquires Leading Nursing Care Provider NICHII—No Impact on Rating

JCR Assigned A+/Stable FC Long-term Issuer Rating to Marubeni Equipment Finance (Oceania)

JCR Affirmed A+ FC Long-term Issuer Rating on Lotte Chemical; Revised Outlook to Negative

JCR Affirmed A+ Long-term Issuer Rating on NIPPON REIT Investment Corporation; Revised Outlook to Positive

JCR Affirmed AA-/Stable Long-term Issuer Rating on Japan Excellent

JCR Assigned AA Rating to Bonds of ASAHI KASEI

JCR Assigned A+ Rating to Bonds of Mitsubishi Chemical Group

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 23-11 (D Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL 23-11

JCR Assigned Green 1(F) to Green Finance Framework of MORI TRUST REIT

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to KOYO Automatic Machine

Nov. 28, 2023

JCR Solicits Public Comments on JCR's Rating Methodology

JCR Assigned A/Stable Long-term Issuer Rating to TEPCO Energy Partner

JCR Affirmed Ap FC Long-term Issuer Rating on Deutsche Bank; Revised Outlook to Positive

JCR Affirmed AA/Stable Long-term Issuer Rating on Japan Prime Realty Investment Corporation

JCR Assigned Green１(F) and Provided a Second Party Opinion on Suitability for the Sustainability-Linked Bond Principles and Sustainability-Linked Loan Principles to Sustainable Finance Framework of MORI BUILDING

JCR Provided a Third Party Opinion on Sustainability Linked Loan of Japan Entertainment

JCR Provided a Third Party Opinion on Sustainability Linked Loan Framework of Japan Real Estate Investment

JCR Provided a Third Party Opinion on Sustainability Linked Loan borrowd by United Super Markets Holdings

JCR Provided a Third Party Opinion on Sustainability Linked Finance Framework of Yasuda Logistics

Nov. 27, 2023

JCR Assigned A+/Stable FC Long-term Issuer Rating to CITIC Securities International

JCR Assigned BBB+/Stable (FC/LC) to REC

JCR Assigned BBB/Stable (FC) and BBB+/Stable (LC) Solicited Rating to Romania; Withdraws BBB (FC) and BBB+ (LC) Unsolicited Rating

[ Asset Securitization Products ] JCR Affirmed BBB- on Specified Bonds 19-07-02

[ Asset Securitization Products ] JCR Assigned A to Senior Beneficial Interest 7931601 Series 6

Nov. 24, 2023

ZENSHO HD Issues New Shares—Limited Impact on Ratings, but JCR Recognizes Financial Improvement Effects

JCR Assigned A+/Positive FC Long-term Issuer Rating to Hyundai Card

JCR Affirmed A+ Long-term Issuer Rating on ASICS; Revised Outlook to Positive

JCR Affirmed A+ FC Long-term Issuer Rating on Hyundai Capital Services; Revised Outlook to Positive

[ Asset Securitization Products ] JCR Upgraded Rating on ABL 21-04 to A

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Hiroshima Bank to N-Vision

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Joyo Bank to BANDOTARO

Nov. 22, 2023

JCR Upgraded Long-term Issuer Rating on Shinsho to BBB/Stable; Affirmed J-2 on CP

JCR Assigned A-/Stable (FC) and A/Stable (LC) to Oriental Republic of Uruguay

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

JCR Affirmed A-/Positive and J-1 on IHI

JCR Affirmed A/Stable Long-term Issuer Rating on Kawasaki Heavy Industries

JCR Affirmed A/Stable Long-term Issuer Rating on SHIP HEALTHCARE HD

JCR Affirmed AAA/Stable Long-term Issuer Rating on National University Corporation, the University of Tokyo

JCR Assigned A+ Rating to Bonds of Nishi-Nippon Railroad

JCR Assigned A- Rating to Bonds of Mitsui Mining and Smelting

JCR Assigned A- Rating to Bonds of MITSUBISHI MATERIALS

JCR Assigned AAA Rating to Bonds of NTT FINANCE

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to obbligato 202312 Senior Beneficial Interest and ABL

JCR Assigned AA to Libra A Limited Series C058

Nov. 21, 2023

GS Yuasa Conducts Capital Increase through Public Offering and Third-Party Allotment—No Immediate Impact on Rating

JCR Removed Credit Monitor; Downgraded Rating on Toho Zinc to BB+; Placed Stable Outlook

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

JCR Affirmed AA/Stable Long-term Issuer Rating on Mitsui Fudosan Private REIT

JCR Assigned A+ Rating to Bonds of Daiwa Securities Group

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 23-11

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 23-11

Nov. 20, 2023

JCR Assigned BBB+/Stable FC Long-term Issuer Rating to Acciona

JCR Upgraded Rating on NIPPON STEEL TEXENG. to AA-/Stable and J-1+

JCR Affirmed A+/Stable Long-term Issuer Rating on K'S HD

JCR Affirmed A+/Stable Long-term Issuer Rating on YAMADA HD

JCR Affirmed A-/Stable Long-term Issuer Rating on TAKAMATSU CONSTRUCTION GROUP

JCR Affirmed A-/Stable LT Issuer Rating on Nippon Light Metal HD

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Hachijuni Bank to Nagano Tectron

Nov. 17, 2023

JCR Affirmed AA-/Stable Long-term Issuer Rating on LY; Assigned J-1+ to CP

JCR Affirmed A Long-term Issuer Rating on OKAYA; Revised Outlook to Positive

JCR Assigned AA Rating to Bonds of Kansai Electric Power

JCR Affirmed A/Stable Long-term Issuer Rating on Nishimatsu Construction

JCR Affirmed AA-/Stable and J-1+ on PayPay Card

JCR Affirmed AA-/Stable Long-term Issuer Rating on PayPay Bank

JCR Assigned A Rating to Bonds of UBE

JCR Assigned AA Rating to Bonds of Suntory HD

JCR Assigned A+ Rating to Bonds of NICHIREI

JCR Assigned Green 1 to Joint Local Government Green Bond 1st of Joint Green Bond issuers (Local Government)

Nov. 16, 2023

JCR Upgraded Long-term Issuer Rating on IKAI to BBB-/Stable

JCR Assigned BBB+ Rating to Bonds of GREE

JCR Assigned AA- Rating to Bonds of POCKET CARD

JCR Assigned A Rating to Bonds of Poland

JCR Assigned BBB+ to Notes of REDI Core Issuer LLC

Nov. 15, 2023

JCR Upgraded Long-term Issuer Rating on OSAKA STEEL to A+/Stable

JCR Upgraded Rating on KROSAKI HARIMA to A/Stable; Affirmed J-1

JCR Upgraded Long-term Issuer Rating on NIPPON STEEL TRADING to AA/Stable; Affirmed J-1+ on CP

JCR Upgraded Long-term Issuer Rating on NIPPON STEEL ENGINEERING to AA-/Stable

JCR Affirmed A- Long-term Issuer Rating on ANA HD; Revised Outlook to Positive

JCR Affirmed BBB+/Stable Long-term Issuer Rating on YAHAGI CONSTRUCTION

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Withdraws A- Long-term Issuer Rating on CHUBUSHIRYO

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Shodoshima Healthyland

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to TOM'S

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Joyo Bank to SHIMA COMPANY

Nov. 14, 2023

JCR Affirmed A+/Stable and J-1 on NICHIREI

JCR Affirmed A+/Stable and J-1 on Nabtesco

JCR Assigned AA Rating to Bonds of MORI HILLS REIT INVESTMENT CORPORATION

Nov. 13, 2023

MIRAIT ONE Makes Kokusai Kogyo a Subsidiary—Limited Impact on Rating

eREX Revises FY2023 Earnings Forecast—No Immediate Impact on Ratings, but Downward Pressure Increases

JCR Placed Rating on Benesse HD under Credit Monitor #A+/Negative

JCR Affirmed A+ and J-1 on Sanwa HD; Revised Outlook to Positive

JCR Affirmed A/Stable Long-term Issuer Rating on Ezaki Glico

JCR Affirmed AA-/Stable and J-1+ on Odakyu Electric Railway

JCR Affirmed A+/Stable Long-term Issuer Rating on TIS and INTEC

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

JCR Affirmed BBB+/Stable FC Long-term Issuer Rating on Leonteq Securities

Nov. 10, 2023

FUJI SOFT Makes Listed Consolidated Subsidiaries Wholly-Owned Subsidiaries—JCR Judged Limited Impact on Rating

JCR Placed Rating on Toho Zinc under Credit Monitor #BBB-/Negative and #J-2/Negative