News Release

Feb. 23, 2011

Assigned J-1 to Medical Fees Receivable ABL11-02 (M Hospital)

Assigned J-1 to dispensing fees ABL11-02 (Nanba Pharmacy)

Affirmed BBB+/Stable on senior debts of Yamazen

JCR Assigned pre. AA- rating to bonds of Nomura Europe Finance

Affirms BBB+ Ratings (FC/LC) on Indian Railway Finance; Outlook Stable

Feb. 22, 2011

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-02 (H Hospital)

Assigned J-1 to Medical Fees Receivable ABL11-02 (J Hospital)

Affirmed A+/Stable rating on Oita Bank

Affirmed A and J-1 on Lintec; Revised outlook to Positive

Feb. 21, 2011

<Asset Securitization Products> Assigned J-3 to Monthly Clear Card Shopping Receivable ABL11-02

<Asset Securitization Products> Assigned preliminary J-1+ to MSNW Trust Certificate Series 11020

<Asset Securitization Products> Assigned pre.J-1 to Hyakugo Bank B Corporation Bills Receivable ABL11-02

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-02 (F Hospital)

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-02 (L Hospital)

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-02 (H Hospital)

<Asset Securitization Products> Assigned J-3 to Narasaki Stax Accounts Receivable ABL11-02

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-02 (Asahikawa Sanai Hospital)

<Asset Securitization Products> Assigned Pre. J-1+ to Takeda General Hospital Beneficial Interest 11-03

Assigned preliminary A rating to shelf reg. of Takara Holdings

Affirmed A- on Okamura Corporation; Revised outlook to Stable

Affirmed BBB+/Stable and BBB+ on Kowa Real Estate

Affirmed A/Stable and A- on Shimizu Bank

Affirms BB ratings (FC/LC) on Turkey; Outlook Stable

Affirmed BBB+ on San-Ai Oil; Revised outlook to Positive

Affirmed A- rating on Itochu Enex; Revised outlook to Positive

Feb. 18, 2011

<Asset Securitization Products> Assigned J-1+ to JUTEC Bills Receivable ABL11-02

<Asset Securitization Products>

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-02 (I Hospital)

Affirmed A/Stable rating on senior debts of Japan Net Bank

Affirmed BBB+/Stable and BBB+ on Makino Milling Machine

Assigned A rating to bonds of Orix Corporation

Assigned AA- to subordinated bonds of Tokyo-Mitsubishi UFJ

Affirmed AAp/Negative on senior debts of Sharp Corporation

Feb. 17, 2011

<Asset Securitization Products> Assigned pre. J-1 rating to Aso Shoji Bills Receivable ABL11-02

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-02 (Kyowakai)

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-02 (K Hospital)

Revised rating on Softbank to A-/Stable, A-, pre. A- and J-1

Affirmed AA/Stable on Daiwa House

Assigned A- rating to bonds of Phoenix JT Limited

Revised rating on Softbank Telecom Corp. to A-/Stable

Assigned AA rating to bonds of Urban Renaissance Agency

Assigned AAA rating to bonds of Electric Power Development

Feb. 16, 2011

<Asset Securitization Products> Assigned J-1 to Dispensing Fees Receivable ABL11-02 (sun-kur)

<Asset Securitization Products> Assigned J-1+ to Takeda General Hospital Beneficial Interest 11-02

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-02 (E Hospital)

Assigned AA rating to bonds of Kansai International Airport

Affirmed AA/Stable and AA on Sumitomo Wiring Systems

Affirmed AA/Stable, AA, Pre. AA & J-1+ on Sumitomo Electric Industries

Revised rating on Aica Kogyo from A-/Stable to A/Stable

Affirmed AA-/Stable and AA- on Tokai Rubber Industries

Affirmed AA/Stable and AA on sr.debts and bonds of Urban Renaissance Agency

Assigned AA rating to bonds of MORI TRUST Sogo Reit

Affirmed J-1+ on CP of Toyota Motor

Affirms AAA Ratings on United Kingdom; Outlook Stable

Feb. 15, 2011

<Asset Securitization Products> Assigned Pre. J-1 to Kurashiki Medical Center Beneficial Interest 11-02

Withdraws AA/Stable rating on Kitami Institute of Technology

Affirmed BBB/Positive rating on senior debts of Saikyo Bank

Feb. 14, 2011

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-02 (B Hospital)

Feb. 10, 2011

<Asset Securitization Products> Assigned pre. J-1+ to A&D Bills Receivable Beneficial Interest 11-02

Revised ratings on Sapporo Holdings to A-/Stable, A- and J-1

Assigns A Rating to Busan Bank's Samurai Bonds

Assigned pre. AA- to subordinated bonds of Tokyo-Mitsubishi UFJ

Assigned AA- rating to bonds of Mori Hills REIT Investment Corporation

Assigned AAA rating to bonds of Aichi Prefecture

JCR Placed ratings on Fuji Fire and Marine Insurance under CM #A/Positive
JCR Placed ratings on and Fuji Life Insurance under CM #A-/Positive

Revised ratings on Round One from BBB+/Stable to BBB/Negative and then withdrawn

Feb. 09, 2011

Assigned AA rating to bonds of Japan Atomic Power

Affirmed AA-/Stable, AA-, pre. AA- and J-1+ on Asahi Breweries

Affirmed AA-/Stable, AA- and J-1+ on Mitsui Fudosan

Assigned AA rating to bonds of Nomura Real Estate Residential Fund

Affirmed A-/Negative and A- rating on Nagoya Railroad

Affirmed AA+p/Stable rating on senior debts of Mitsubishi Estate

Affirmed A/Stable, A, BBB+, pre. A and J-1 on Sumitomo Realty & Development

Feb. 08, 2011

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-02 (D Hospital)

Affirmed BBB+/Stable rating on senior debts of Roland

Assigned AA-/Stable rating to sr.debts of Fukuoka REIT Corporation

Assigned AAA rating to bonds of Aichi Prefecture

Feb. 07, 2011

Affirmed A and J-1 on JGC; Revised outlook to Positive

JCR Affirms A Ratings on Telefonica ; Outlook Stable
JCR Affirms A Ratings on Telefonica Europe

Assigns AAA ratings to African Development Bank 's notes

Feb. 04, 2011

Assigned pre.A to shelf; Affirmed A/stable and A on Kenedix Realty Investment

Assigned AAA rating to bonds of Aichi Prefecture

Affirms AA Rating on Teollisuuden Voima Oyj; Outlook Stable

Affirms AA Rating on Pohjolan Voima Oy; Outlook Stable

JCR Affirmed AA- on EMTN of Nomura Bank International

Feb. 03, 2011

<Asset Securitization Products> Assigned J-1 to Hayakawa Rubber Bills Receivable ABL11-02

Affirmed J-2 rating on CP of Meidensha

Affirmed A-/Stable, A-, pre. A- and J-1 on Sumitomo Osaka Cement

Affirmed BBBp/Stable rating on senior debts of Taiheiyo Cement

Placed ratings on Culture Convenience Club under Credit Monitor #BBB/Negative

Affirms AA/AA (FC/LC) Ratings on Slovenia: Outlook Stable

Feb. 02, 2011

Affirmed A/Stable and J-1 on Century Tokyo Leasing
Affirmed A/Stable and J-1 on FUJITSU LEASING

Affirmed AAA rating on bonds of Aichi Prefecture

Revised rating on Tomakomai Shinkin Bank from A- to A/Stable

Affirmed A/Stable rating on Wakkanai Shinkin Bank

Withdraws AA/Positive rating on sr.debts of University of Kitakyushu

Assigned AAA/Stable to sr. debts of Tokyo Gas; Withdraws AAAp

Withdraws BBB/Negative rating on sr. debts of Daisyo Corporation

Affirms FC/LC Ratings of Korea; Outlook Stable

Affirms A+/AA- (FC/LC) Ratings on Korea Electric Power Corporation (KEPCO)