News Release

Oct. 23, 2024: JCR Affirmed AA/Stable Long-term Issuer Rating on ASAHI KASEINEW; JCR Affirmed AA-/Stable Long-term Issuer Rating on Kimitsu Cooperative Thermal Power CompanyNEW; JCR Assigned AAA Rating to Bonds of Japan Student Services OrganizationNEW; JCR Affirmed AAA/Stable Long-term Issuer Rating on African Development Bank; Assigned AAA to BondsNEW; [ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 24-10NEW; [ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (Seiwakai Medical Corporation, Ishii Hospital)NEW; [ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 24-10NEW; JCR Assigned A- Rating to SPIRE SA Series 2024-400NEW; JCR Assigned A- Rating to SPIRE SA Series 2024-401NEW; Establishment of Green Equity Evaluation Methodology for Real estate investment corporationNEW

Oct. 22, 2024: JCR Assigned A-/Stable Long-term Issuer Rating to ShinMaywa Industries; JCR Upgraded Long-term Issuer Rating on AOKI HD to A/Stable; JCR Upgraded Long-term Issuer Rating on TSUKISHIMA HD to A/Stable; JCR Affirmed AA/Stable Long-term Issuer Rating on SONY GROUP; JCR Affirmed BBB+/Stable and J-2 on DAIHO; JCR Affirmed A+/Stable Long-term Issuer Rating on Nagoya Railroad; JCR Affirmed AAA/Stable and J-1+ on NTT TC Leasing; JCR Affirmed AA/Stable Long-term Issuer Rating on Mitsui Fudosan Private REIT; JCR Affirmed A- on JRE Mega Solar Project Bond Trust 1 Class A Beneficial Interest and Class A Trust ABL; JCR Affirmed A on JRE Mega Solar Project Bond Trust 1 Class B Beneficial Interest and Class B Trust ABL; JCR Affirmed BBB+ on JRE Mega Solar Project Bond Trust 1 Class C Beneficial Interest; JCR Affirmed A on JRE Mega Solar Project Bond Trust 2 Beneficial Interest; Japan: Assigned Climate Transition Bond Evaluation: Green 1(T); Luup Fleet Management 2 LLC: Assigned Green Loan Evaluation: Green 1

Oct. 21, 2024: JCR Upgraded Long-term Issuer Rating on Daiwa Hotel Private Investment Corporation to A/Stable; JCR Affirmed A and J-1 on TSUBAKIMOTO CHAIN; Revised Outlook to Positive; JCR Affirmed J-2 Rating on CP of TOKYO ELECTRON DEVICE; JCR Affirmed AA/Stable and J-1+ on Mitsubishi Logistics; JCR Affirmed AA-/Stable (FC/LC) on Frasers Property; JCR Affirmed A+/Stable FC Long-term Issuer Rating on GAW Capital Partners; JCR Affirmed BBB+/Stable (FC/LC) on Canter Fizgerald, BGC Group and NEWMARK GROUP; EXEO Group: Second Party Opinion on Sustainability Linked Finance Framework (Review); EXEO Group: Second Party Opinion on Sustainability Linked Loan

Oct. 18, 2024: JCR Removed Credit Monitor; Affirmed B on Energy Absolute; Placed Negative Outlook; JCR Affirmed AA/Stable Long-term Issuer Rating on Resona HD, Resona Bank, Saitama Resona Bank, Kansai Mirai Bank and MINATO BANK; and J-1+ on Kansai Mirai Bank; JCR Affirmed A-/Stable Long-term Issuer Rating on San ju San Financial Group and San ju San Bank; JCR Assigned A Rating to Bonds of HANWA; JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Auto Service; JCR Assigned A Rating to Bonds of Sumitomo Mitsui Trust Group; JCR Assigned AA Rating to Bonds of Mitsubishi HC Capital; JCR Assigned A Rating to Bonds of Canadian Solar Infrastructure Fund; JCR Assigned AA Rating to Bonds of Electricite de France S.A.; JCR Assigned A Rating to Subordinated Loan of Fuyo General Lease; [ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 24-10 (D Hospital); Joint Green Bond issuers(Local Government): Assigned Green 1(Preliminary) to Green Bond

Oct. 17, 2024: JCR Assigned A+ Rating to Bonds of ISUZU MOTORS; JCR Assigned AAA Rating to Bonds of Metropolitan Expressway; JCR Withdraws BBB Long-term Issuer Rating on Adaro Energy Indonesia; Daiwa House REIT Investment Corporation: Assigned Sustainability Loan Preliminary Evaluation: SU 1; Daiwa House REIT Investment Corporation: Reviewed Green Finance Framework Evaluation: Green 1(F); Daiwa House REIT Investment Corporation: Reviewed Sustainability Finance Framework Evaluation: SU 1(F); Canadian Solar Infrastructure Fund: Reviewed Green Finance Framework Evaluation: Green 1(F)