News Release

Aug. 28, 2018

JCR Affirmed BBB+/Stable, BBB+ and Preliminary BBB+ on Sanken Electric

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

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL18-08 (D Hospital)

Aug. 27, 2018

JCR Upgraded Ratings on Meiji Holdings from A+/Positive to AA-/Stable and from J-1 to J-1+

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

JCR Assigned J-1+ Short-term Issuer Rating to ITOCHU; Upgraded from AA-/Positive, AA- and Preliminary AA- to AA/Stable, AA and Preliminary AA; Affirmed J-1+ on CP

JCR Affirmed J-1+ Rating on CP of ITOCHU Treasury

JCR Upgraded Rating on EMTN of ITOCHU from AA- to AA
JCR Upgraded Rating on EMTN of ITOCHU Treasury from AA- to AA
JCR Upgraded Rating on EMTN of ITOCHU Treasury Centre Europe from AA- to AA

JCR Affirmed AAA/Stable Rating and Assigned AAA Ratings to Bonds of AfDB

JCR Assigned Preliminary A- Rating to Shelf Registration of HIKARI TSUSHIN

JCR's Rating Review of Major Oil Distributors

JCR Affirmed A/Stable and J-1 on Fukuoka Financial Group
JCR Affirmed A+/Stable Long-term Issuer Rating on BANK OF FUKUOKA
JCR Affirmed A/Stable Long-term Issuer Rating on Kumamoto Bank
JCR Affirmed A/Stable Long-term Issuer Rating on SHINWA BANK

JCR Affirmed BBB+/Negative Long-term Issuer Rating on TSUKADA GLOBAL HOLDINGS

JCR Affirmed J-1 Rating on CP of Yanmar Holdings

JCR Affirmed AA-/Stable, AA-, Preliminary AA- and J-1+ on Hankyu Hanshin Holdings

JCR Affirmed A-/Stable, A- and Preliminary A- on SEIBU HOLDINGS

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

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL18-08

Aug. 24, 2018

JCR Assigned Green 1 to Long-term Loan Borrowed by Japan Excellent

JCR Upgraded Rating on TAIHEIYO CEMENT from BBB+/Positive to A-/Stable

JCR Affirmed A- Rating on Fukui Bank; Revised Outlook from Stable to Negative

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Assigned A- Rating to Bonds of Mitsui O.S.K. Lines

JCR Assigned A Rating to Bonds of NICHIREI

JCR Assigned A Rating to Bonds of TOYOBO

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

JCR Assigned A- Rating to Bonds of Tokyu Fudosan Holdings

JCR Assigned AAA Rating to Bonds of Japan Student Services

JCR Assigned AA- Rating to Bonds of Hulic Reit

JCR Assigned Preliminary A- Rating to Shelf Registration of Tokyo Tatemono

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

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

JCR Affirmed A on Canadian Solar Dual Tenor Green Project Bond Trust (Gunma) Beneficial Interest and Trust ABL

JCR Affirmed A on Canadian Solar Green Project Bond Trust (Yamaguchi) Beneficial Interest and Trust ABL

Aug. 23, 2018

JCR Assigned A Rating to Bonds of ACOM

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL18-08

Aug. 22, 2018

JCR Downgraded Rating on Nagano Bank from BBB+/Negative and BBB to BBB/Stable and BBB-

JCR Assigned Preliminary A+ Rating to Subordinated Loan of Nippon Life Insurance

JCR Assigned Preliminary A+ Rating to Bonds of Nissay 2nd Subordinated Loan Securitization Company Limited

JCR Assigned AAA Rating to Bonds and Preliminary AAA Rating to Shelf Registration of Development Bank of Japan

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

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Hyakugo Bank B Corporation Bills Receivable ABL18-08

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL18-08

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (Kyokuhokai Medical Association, Asahikawa Sanai Hospital)

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

JCR Affirmed AA- on Specified Bonds of Nissay 2015 Fund SPC
JCR Affirmed AA- on Specified Bonds of Nissay 2017 Fund SPC

Aug. 21, 2018

JCR Upgraded Rating on ISHIHARA SANGYO KAISHA from BBB-/Positive to BBB/Stable

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

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL18-08 (F Hospital)

Aug. 20, 2018

JCR Assigned AA/Positive Long-term Issuer Rating and Ability to Pay Insurance Claims to Nippon Life Insurance; Affirmed J-1+ and Withdraws AAp Ratings

JCR Assigned AA-/Stable Long-term Issuer Rating and Preliminary A Rating to Subordinated Bonds of T&D Holdings

JCR Affirmed BBB- and J-2 on Financial Products Group; Revised Outlook from Stable to Positive

JCR Assigned Preliminary AA Rating to Shelf Registration of Chugoku Electric Power

JCR Affirmed BBB/Stable and J-2 on Toho Zinc

Aug. 17, 2018

JCR Assigned Preliminary AA- Rating to Bonds of Nomura Holdings

JCR Assigned Preliminary A+ to Shelf Registration of Nippon Electric Glass; Affirmed A+/Stable and J-1

JCR Assigned Preliminary AA Rating to Shelf Registration of NEW KANSAI INTERNATIONAL AIRPORT

JCR Affirmed AA+ (FC/LC) Ratings on Hong Kong with Stable Outlook

Aug. 15, 2018

JCR Affirmed A+ Rating on Benesse Holdings; Revised Outlook from Negative to Stable

Aug. 14, 2018

JCR Assigned (FC/LC) Solicited Ratings of Turkey and Placed under Credit Monitor to #BBB-/Negative, and Withdrew BBB-/BBB- (FC/LC) Unsolicited Ratings; Placed JPY bond ratings under Credit Monitor to #BBB-/Negative

[ Asset Securitization Products ] JCR Affirmed J-1+ on ABCP Programs of Super Trust 1 to 20, LLCs

Aug. 13, 2018

JCR Affirmed A+ and J-1 Ratings on SUMITOMO CHEMICAL; Revised Outlook from Stable to Positive

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

Aug. 10, 2018

Outlook Revision for Issuer Ratings Following Same for Japan

Outlook Revision for FILP Agencies, etc. Following Same for Japan

JCR Revised Outlook for Tokio Marine Holdings and Tokio Marine & Nichido Fire Insurance from Negative to Stable

JCR Revised Outlook for Japan Earthquake Reinsurance from Negative to Stable

JCR Upgraded Rating on CHUBUSHIRYO from BBB+/Positive to A-/Stable

JCR Assigned BBB+ Rating to Bonds of TSUKISHIMA KIKAI

JCR Assigned A Rating to Bonds of MORI BUILDING

JCR Assigned AA Rating to Bonds of Nippon Prologis REIT

JCR Affirmed BBB+/Stable, BBB+, and BBB- on Hitachi Zosen

JCR Affirmed A on SGET Tochigi Mega Solar Power Station Project Beneficial Interest

Aug. 09, 2018

JCR Affirmed AAA/AAA (FC/LC) Ratings on Japan; Revised Outlook from Negative to Stable

JCR Affirmed BBB- Rating on KISOJI; Revised Outlook from Stable to Positive

Highlights of Regional Banks' Financial Results for Fiscal Year Ended March 2018

Aug. 08, 2018

JCR Assigned BBB+/BBB+ (FC/LC) Solicited Ratings to the Philippines with Stable Outlook and Withdrew BBB+/BBB+ (FC/LC) Unsolicited Ratings; Assigned BBB+ Rating to JPY Bonds

JCR Assigned Preliminary AA- to Shelf Registration of Kansai Electric Power

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

Aug. 07, 2018

JCR Placed Rating on PIONEER under Credit Monitor #BBB-/Negative

Aug. 06, 2018

JCR Affirmed BBB+/Stable and Preliminary BBB+ on HEIWA REAL ESTATE

Aug. 03, 2018

JCR Assigned AA- Rating to Bonds of Japan Excellent

JCR Assigned Preliminary A+ Rating to Shelf Registration of Keikyu

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

Aug. 02, 2018

MIRAIT Holdings Announces Management Integration with SOLCOM and Shikokutsuken - No Immediate Impact on Rating

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

JCR Affirmed A-/Stable, A- and J-1 on GS Yuasa Corporation

JCR Affirmed A/Stable Long-term Issuer Rating on KATO SANGYO

JCR Affirmed A-/Stable and A- on SIIX

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

Aug. 01, 2018

JCR Assigned Preliminary A- Rating to Shelf Registration of MAEDA CORPORATION

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to Grass Park Beneficial Interest Series 1

Jul. 31, 2018

JCR Affirmed BBB/Stable Long-term Issuer Rating on TOYO KANETSU

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Electronically Recorded Receivable ABL18-07

JCR Withdraws AA-/Stable and J-1+ on Sumitomo Mitsui Card

Jul. 30, 2018

JCR Assigned Preliminary A Rating to Shelf Registration of KUREHA; Affirmed A/Stable, A, and J-1

JCR Affirmed AA/Stable and AA on TOYOTA BOSHOKU

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

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL18-07