News Release

Sep. 20, 2019

JCR Assigned Preliminary A- Rating to Shelf Registration of Central Glass

JCR Downgraded Rating on Fukui Bank from A-/Negative to BBB+/Stable

JCR Affirmed BBB-/Stable Long-term Issuer Rating on FUKUHO BANK

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

JCR Affirmed A+(FC) Rating on Banco Santander with Stable Outlook, and A Ratings on Senior Non Preferred Bonds

JCR Affirmed A Rating on Shinhan Bank Japan with Stable Outlook

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL19-09

Sep. 19, 2019

JCR Assigned Green 1 (Preliminary Evaluation) to Long-term Loan Borrowed by Mitsubishi Electric Credit

JCR Affirmed AA-/Stable, AA-, Preliminary AA-, and J-1+ on Mitsubishi Heavy Industries

JCR Affirmed A/Stable and A on AICHI STEEL

JCR Affirmed A on Kurimoto Mega Solar Project Bond Trust 1 Beneficial Interest and Trust ABL

JCR Affirmed A on Kurimoto Mega Solar Green Project Bond Trust 2 Beneficial Interest and Trust ABL

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL19-09

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL19-09 (F Hospital)

Sep. 18, 2019

JCR Assigned Green 1 (F) to the Green Finance Framework By Vena Energy

JCR Assigned A+ Rating to Subordinated Bonds of DAIWA HOUSE INDUSTRY

JCR Affirmed BBB+ and Preliminary BBB+ on HEIWA REAL ESTATE; Revised Outlook from Stable to Positive

JCR's Rating Review of Foreign Exchange (FX) Margin Trading Intermediaries

JCR Withdraws LD on AKEBONO BRAKE INDUSTRY

Sep. 17, 2019

JCR Assigned J-1+ Rating to CP of SoftBank

JCR Affirmed BBB+/Stable, BBB+ and J-2 on Daio Paper

JCR Affirmed A+/Stable Long-term Issuer Rating on Jupiter Telecommunications

Sep. 13, 2019

JCR Assigned Green 1 (Final Evaluation) to the 1st Bonds by DAIKEN

JCR Assigned BBB+ Rating to Bonds of DAIKEN

JCR Assigned Green 1 (Final Evaluation) to the 7th Bonds Issued by Sumitomo Warehouse

JCR Assigned AA- Rating to Bonds of Sumitomo Warehouse

JCR Assigned A-/Stable Long-term Issuer Rating to Canadian Solar Infrastructure Fund

JCR Assigned AA- Rating to Bonds of JFE Holdings

JCR Assigned A Rating to Bonds of AEON Financial Service

JCR Assigned AA Rating to Bonds of Nomura Real Estate Master Fund

JCR Affirmed AA Ratings on Electricite de France with Stable Outlook

Sep. 12, 2019

Yahoo Japan's Tender Offer for Shares of ZOZO - No Immediate Impact on Rating, but JCR will Pay Attention to Future Synergies and Financial Improvement

SoftBank Subsidiary Yahoo Japan's Acquisition of Shares of ZOZO - Limited Impact on Rating

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Assigned A- Rating to Bonds of YOKOHAMA REITO

JCR Assigned AA- Rating to Bonds of TOKYU

JCR Assigned AA- Rating to Bonds of Coca-Cola Bottlers Japan Holdings

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned BBB Ratings to JPY bonds of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 19-09

Sep. 11, 2019

JCR Assigned A-/Stable Long-term Issuer Rating to Sushiro Global Holdings

JCR Upgraded Rating on Sharp from BB/Positive to BB+/Stable

JCR Assigned A+ Rating to Bonds of DOWA HOLDINGS

JCR Affirmed AA+p/Stable Long-term Issuer Rating on Astellas Pharma

JCR Affirmed A+p/Stable Long-term Issuer Rating on Mitsubishi Tanabe Pharma

Sep. 10, 2019

JCR Assigned AA- Rating to Bonds of Mitsubishi UFJ Lease & Finance

JCR Affirmed AAA (FC)/AAA (LC) Ratings on Export Development Canada with Stable Outlook

Sep. 09, 2019

Tokyo Century's Conversion of ACG in US into a Wholly-Owning Subsidiary - JCR Will Watch Future Risk Control and Financing

JCR Affirmed BBB and J-2 on Toho Zinc; Revised Outlook from Stable to Negative

JCR Assigned J-1+ to CP; Affirmed AA-/Stable and AA- on Mori Trust Holdings

JCR Affirmed A+/Stable, A+, Preliminary A+ and J-1 on Nippon Electric Glass

JCR Affirmed A/Positive, A, Preliminary A and J-1 on Showa Denko

JCR Affirmed J-2 Rating on CP of SHOKO

JCR Affirmed A/Stable and J-1 on Marubeni-Itochu Steel

JCR Affirmed J-2 Rating on CP of TOKAI Holdings

Sep. 06, 2019

For Public Comments on Revision of Rating Methodology for Synthetic CDOs

SUMITOMO CHEMICAL’s Subsidiary Agreed on Strategic Alliance with Roivant Sciences—JCR will Pay Attention to Impact on the Group’s Financial Structure

JCR Assigned A Rating to Subordinated Bonds of NIPPON STEEL

JCR Assigned AA Rating to Bonds of Mitsui Fudosan

JCR Assigned A Rating to Bonds of MAEDA

JCR Assigned A- Rating to Bonds of SoftBank Group

JCR Assigned A+ to Bonds (Tier 2 with loss absorption clause) of Mitsubishi UFJ Financial Group

JCR Assigned AA+ Rating to Bonds of NARITA INTERNATIONAL AIRPORT

JCR Affirmed J-2 Rating on CP of TSUBAKIMOTO KOGYO

JCR Affirmed AA Rating on EMTN of ITOCHU and ITOCHU Treasury Centre Europe

JCR Affirmed A+ on Beneficial Interest and ABL of Securitization of Loans Receivable

Sep. 05, 2019

JCR Assigned A Rating to Bonds of NIFCO

JCR Assigned AA Rating to Bonds of Chubu Electric Power

JCR Assigned A- Rating to Subordinated Bonds of Dai-ichi Life Holdings

JCR Assigned AA Rating to Bonds of Daiwa Office Investment Corporation

JCR Affirmed BBB+/Stable Long-term Issuer Rating on DAIICHI JITSUGYO

Sep. 04, 2019

JCR Assigned BBB- Rating to Credito Real with Stable Outlook

JCR Affirmed A- Rating on Tokyo Star Bank; Revised Outlook from Stable to Positive

JCR Affirmed A- Rating on Renault; Revised Outlook from Positive to Stable

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

JCR Assigned AA- Rating to Bonds of Japan Excellent

JCR Affirmed AA-/Stable, AA- and Preliminary AA- on Global One Real Estate Investment Corporation

Sep. 03, 2019

JCR Affirmed BBB, Preliminary BBB and J-2 on JALUX; Revised Outlook from Stable to Positive

JCR Affirmed BBB Rating on DAIKI ALUMINIUM INDUSTRY; Revised Outlook from Stable to Positive

JCR Assigned AA- Rating to Bonds of JCB

JCR Affirmed BBB+/Stable Long-term Issuer Rating on FIDEA Holdings
JCR Affirmed BBB+/Stable Long-term Issuer Rating on SHONAI BANK
JCR Affirmed BBB/Stable Long-term Issuer Rating on Hokuto Bank

JCR Affirmed BBB/Stable and BBB- on NAGANOBANK

Sep. 02, 2019

JCR Upgraded Rating on Sojitz from BBB+/Positive, BBB+, Preliminary BBB+ and J-2 to A-/Stable, A-, Preliminary A- and J-1

JCR Affirmed AA- Rating on EMTN of Mitsubishi UFJ Lease & Finance; Assigned AA- Rating to EMTN of MUL Asset Finance

JCR Affirmed BBB-/Stable and J-2 on Mitsubishi Paper Mills

JCR Affirmed A/Stable Long-term Issuer Rating on FIRST BANK OF TOYAMA

Aug. 30, 2019

DIC to Acquire BASF's Pigments Business - Transaction Will Help Business Portfolio Transformation; JCR Will Watch How It Will Be Financed

JCR Assigned Green 1 to Trust Beneficiary Rights 201908 (Contract No. 210226)

JCR Assigned A-/Stable Long-term Issuer Rating to Enex Infrastructure Investment Corporation

JCR Removed Credit Monitor; Affirmed A+ on SEIBU SHINKIN BANK; Placed Negative Outlook

JCR Affirmed BBB+ and Preliminary BBB+ on Tsukishima Kikai; Revised Outlook from Stable to Positive

JCR Assigned A+ Rating to Bonds of Nagoya Railroad

JCR Assigned AA- Rating to Bonds of Kansai Electric Power

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned A- Rating to Bonds of Mazda Motor

JCR Assigned AA Rating to Bonds of ASAHI KASEI

JCR Assigned A Rating to Bonds of JA MITSUI LEASING

JCR Affirmed BBB/Stable Long-term Issuer Rating on Tokushu Tokai Paper

JCR Affirmed A-/Stable, A-, BBB, and J-1 on NIPRO

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Electronically Recorded Receivable ABL19-08