News Release

Jul. 29, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL13-07

[ Asset Securitization Products ] JCR Assigned J-1+ to Bills Receivable Beneficial Interest 13-07 (A Corp.)

Jul. 26, 2013

JCR Assigned AA- Rating to Bonds of Mitsui Fudosan

Jul. 25, 2013

[ Asset Securitization Products ] JCR Assigned J-1+ and J-2 to C Corporation Bills Receivable ABL13-07

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 13070

JCR's Rating Review of Electric Power Companies

JCR Affirmed BBB-/Stable and J-2 on Ichinen Holdings

JCR Affirmed A-/Stable Long-term Issuer Rating, A- and J-1 Rating on Central Glass

Jul. 24, 2013

[ Asset Securitization Products ]JCR Assigned Pre. J-1 to Hyakugo Bank B Corporation Bills Receivable ABL13-07

[ Asset Securitization Products ]JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL13-07

JCR Affirmed AA+ Ratings on EDF

JCR Affirmed AAA/AAA (FC/LC) Long-term Issuer Ratings on Export Development Canada

JCR Assigned BBB Rating to Bonds of Hikari Tsushin

JCR's Opinion on Telefonica's Agreement with KPN on the acquisition of KPN's German Subsidiary

JCR Assigned BBB+ Rating to Bonds of Nagatanien

Jul. 23, 2013

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Aso Shoji Bills Receivable ABL13-07

JCR Affirmed AA+ Ratings on GDF SUEZ

JCR Affirmed Ap/Stable Long-term Issuer Rating on Toyo Ink SC Holdings

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Trust Bank

JCR Downgraded Rating on AvanStrate from #BB+[Negative] to #CC[Negative]; Maintains CM

Jul. 22, 2013

[ Asset Securitization Products ]JCR Assigned J-1 to Medical Fees Receivable ABL13-07 (Asahikawa Sanai HP)

[ Asset Securitization Products ]JCR Assigned J-1 to Medical Fees Receivable ABL13-07 (C Hospital)

JCR Affirmed A/Stable and J-1 on Daido Steel

JCR Affirmed BBB-/BBB (FC/LC) Long-term Issuer Ratings on Indonesia

Jul. 19, 2013

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 13070

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL13-07

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-07 (F Hospital)

JCR Affirmed AAA Rating on IDB

JCR Affirmed A+ Ratings on HCS

JCR Assigned BBB+ Rating to Bonds of Penta-Ocean Construction

JCR Assigned AA- Rating to Bonds of Mizuho Bank

JCR Assigned A Rating to Bonds of Fuyo General Lease

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned A+ to JPY Bonds; Affirmed A+ on Shinhan Bank

Jul. 18, 2013

JCR Assigned AA Rating to Bonds of Bank of Tokyo-Mitsubishi UFJ

JCR Affirmed S3 Special Servicer Rating for Yamada Servicer Synthetic Office

JCR Affirmed BBB+/Stable and BBB Rating on Tomato Bank

JCR Affirmed A Long-term Issuer Rating on Kureha; Revised Outlook from Stable to Negative

JCR Affirmed BB+/Stable Rating on Yamada Servicer

Jul. 17, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-07 (D Hospital)

JCR Assigned Preliminary A Rating to Specified Bonds of Meiji Yasuda Life 2013 Fund SPC

JCR's Opinion on Fuji Fire and Marine Insurance's Expected Merger with AIU

JCR Assigned A Rating to Bonds of Sumitomo Realty & Development

JCR Affirmed BBB/Stable Long-term Issuer Rating on Hitachi Zosen

JCR Assigned A- Rating to Sub. Bonds of SBI Sumishin Net Bank

Jul. 16, 2013

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

JCR Affirmed A-/Stable, A- and Preliminary A- Rating on Valor

JCR Affirmed A-/Stable Long-term Issuer Rating on Takasago International Corporation

Jul. 12, 2013

JCR Removed CM; Downgraded Rating on Receivables against SoftBank Mobile Corporation (assigned on March 31, 2010) from #A/Negative to A-

JCR Removed CM; Downgraded Rating on Receivables against SoftBank Mobile Corporation (assigned on December 28, 2009) from #A/Negative to A-

JCR Removed CM; Downgraded Rating on Receivables against SoftBank Mobile Corporation (assigned on June 30, 2008) from #A/Negative to A-

JCR Removed CM; Downgraded Rating on Receivables against SoftBank Mobile Corporation (assigned on December 4, 2009) from #A/Negative to A-

[ Asset Securitization Products ]JCR Upgraded Class B and C and Affirmed Class A2-1, A2-2 and D Specified Bonds of Trust Maison Two TMK

[ Asset Securitization Products ]JCR Upgraded Class C and Affirmed Class A3, B and D Specified Bonds of Trust Maison TMK

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Assigned A+ Rating to Bonds of JX Holdings

JCR Assigned Preliminary AA- Rating to Shelf Reg. of Sumitomo Mitsui Finance & Leasing

Jul. 11, 2013

[ Asset Securitization Products ] JCR Assigned J-1+ to D Corporation Bills Receivable ABL13-07

[ Asset Securitization Products ] JCR Assigned Pre. J-1+ to Bills Receivable Beneficial Interest 13-07 (A Corp.)

JCR Removed CM; Downgraded Rating on SoftBank from #A[Negative] to A- with Stable Outlook
JCR Removed CM; Downgraded Rating on SFJ Capital Limited from #A-[Negative] to BBB+

JCR Affirmed A/Stable and J-1 Rating on Heiwado

Jul. 10, 2013

JCR Assigned A/Stable Long-term Issuer Rating to Paramount Bed Holdings

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Assigned BBB+ Ratings to Notes of Export-Import Bank of India

JCR Withdraws BBB/Stable Long-term Issuer Rating on Izumi Junior College

JCR Affirmed AAA/AA+ Ratings and Assigned AAA Ratings to AfDB's Notes

JCR Assigned A- Rating to Bonds of Idemitsu Kosan

JCR Affirmed BBB/Stable Rating on Towa Bank

JCR Assigned Preliminary A- Rating to Shelf Reg. of Sumitomo Osaka Cement

Jul. 09, 2013

JCR Assigned AAA Rating to Bonds of DBJ

JCR Assigned A Rating to Bonds of Kawasaki Heavy Industries

JCR Affirmed BBB+/Stable, BBB+, Pre. BBB+ and J-2 Rating on Penta-Ocean Construction

JCR Assigned A- Rating to Bonds of NEC Capital Solutions

JCR Assigned Preliminary A- Rating to Shelf Reg. of Tobu Railway

JCR Affirmed AAA/Stable and Preliminary AAA on Central Japan Railway

JCR Affirmed A-/Stable, Preliminary A- and J-1 on Nisshin OilliO Group

Jul. 08, 2013

JCR Assigned Preliminary AA- Rating to Shelf Reg. of JFE Holdings

JCR Affirmed AA/Stable, AA and J-1+ Rating on HOYA

JCR Affirmed BBB/Stable Long-term Issuer Rating on Fukuho Bank

JCR Affirmed BBB+/Stable, BBB+ and Pre. BBB+ Rating on PGM Holdings

JCR Affirmed A/Stable Long-term Issuer Rating and A- Rating on Sub. Bonds of Fukui Bank

JCR Assigned Preliminary A+ Rating to Shelf Reg. of Marubeni

JCR Assigned Preliminary AA+ Rating to Shelf Reg. of Electric Power Development

JCR's Opinion on Nissen's Downward Earnings Forecast Revision

JCR Assigned BBB+ to Bonds of Asahi Printing; Affirmed BBB+/Stable Rating

Jul. 05, 2013

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

JCR Assigned AA- Rating to Bonds of Ricoh Leasing

Jul. 04, 2013

JCR Affirmed BBB/Stable Long-term Issuer Rating on Hosokawa Micron

JCR Affirmed A-/Stable Long-term Issuer Rating on TOMONY Holdings

Jul. 03, 2013

JCR Affirmed A+/Stable, A+ and J-1 Rating on Yokohama Rubber

JCR Upgraded Rating on Toyo Tire & Rubber from BBB+/Positive to A-/Stable

JCR Affirmed AA/Stable and J-1+ Rating on Bridgestone

JCR Affirmed A+/Stable, A+, Pre. A+ and J-1 on Sumitomo Rubber Industries

JCR's Rating Review of Tire Manufacturers

JCR Assigned AA-/Stable Long-term Issuer Rating and AA- Rating to Bonds of Japan Excellent, Inc.

JCR's Opinion on Suntory Beverage & Food's Listing

JCR's Opinion on BTMU's Acquisition of Bank of Ayudhya Public Company

Jul. 02, 2013

[ Asset Securitization Products ]JCR Affirmed AAA and A- on Beneficial Interest of Triangulum Occident

JCR Assigned Preliminary A Rating to Shelf Reg. of Acom

JCR Assigned AAA Rating to Bonds of Aichi Prefecture