News Release

Month
Year   Month
Period
Issuer Category




Industry
Key Word
May. 22, 2007
Assigned BBB+ to bonds of Tokyo Tatemono
Assigned AAA to bonds of Development Bank of Japan
May. 21, 2007
Affirmed BBB/Stable on sr.debts of Kisoji
May. 18, 2007
Removed CM and upgraded Hankyu Realty to A-/Stable
Removed CM and Downgraded Hanshin Electric Railway to A-
Removed CM and upgraded Hankyu Hanshin Holdings to A-/Stable and J-1
Assigned preliminary A to shelf registration of Yokohama Rubber
Assigned AA- to bonds of Orix
Assigned A+ to bonds of Nippon Paper Group
Affirmed BBB for Nankai Railway and Revised Outlook to Positive
Affirmed AA+/Stable on Toa Reinsurance
Placed rating on Nosan under Credit Monitor with Positive
Withdrawn J-2 rating on CP program of Aiful
May. 17, 2007
Assigned AAA to bonds of Tokyo Electric Power Company
Assigned AAA to bonds of Tokyo Electric Power Company
Assigned AAA to bonds of Japan Bank for International Cooperation
May. 16, 2007
Assigned A to bonds of Hokuetsu Paper Mills
Upgraded sr.debts of Sundrug to A and Revised outlook to Stable
May. 15, 2007
Upgraded sr.debts of Kanto Denka Kogyo to BBB/Stable
Assigned BBB- to bonds of Kohnan Shoji
Affirmed BBB/Stable on sr.debts of Japan Asia Investment
Affirmed BBB-/Stable on sr.debts of Nichiwa Sangyo
Affirmed BBB+/Stable on sr.debts of Chubu Shiryo
Affirmed BBB+/Stable on sr.debts of Nosan Corporation
Assigned A+ to bonds of Sumitomo Metal Industries
Assigned preliminary AA- to shelf of Odakyu Electric Railway
May. 14, 2007
Affirmed A-/Stable on sr.debts of Bank of The Ryukyus
May. 11, 2007
Assigned A+ to bonds of Itochu
Downgraded sr.debts of SSP to A-/Stable
Assigned AAA to bonds of National Life Finance Corporation
Affirmed A/Stable on sr.debts of Mitsui Mining & Smelting
Affirmed A for Bank of Okinawa and Revised outlook to Positive
Assigned AAA to bonds of Chugoku Electric Power
Affirmed AA/Stable on sr.debts of Sony Life Insurance
Affirmed J-2 on CP of Ichinen
Placed rating on Sumitomo Wiring Systems under CM with Positive direction
Placed rating on Towa Bank under Credit Monitor with Negative
Placed rating on Tohoku Misawa Homes under CM with Negative
May. 10, 2007
Affirmed A+/Stable on sr.debts of Kyoei Fire & Marine Insurance
Affirmed BBB+/Stable and J-2 on sr.debts and CP of Gecoss
Assigned AA-/Positive to sr.debts of Nippon Steel Engineering
May. 09, 2007
Affirmed BBB-/Stable on sr.debts of Yamada Servicer Synthetic Office
Affirmed S3 Servicer Rating on Yamada Servicer Synthetic Office
Assigned AAA to bonds of Development Bank of Japan
Assigned AAA to bonds of Kansai Electric Power Company
May. 08, 2007
Affirmed A+/Stable on sr.debts of Daishi Bank
Assigned AA- to shelf of Mitsubishi UFJ Lease & Finance
May. 07, 2007
Affirmed A/Stable on senior debts of Rohto
Affirmed A/Stable and A- on sr.debts and sub.bonds of Hokuetsu Bank
Upgraded sr.debts of Rasa Industries to BBB/Stable
Upgraded ratings for Heiwa Real Estate to A-/Stable
May. 02, 2007
JCR Downgraded Kirayaka HD to BBB/Stable
JCR Downgraded Shokusan Bank (Kirayaka Bank) to BBB/Stable
JCR Downgraded Yamagata Shiawase BK to BBB/Stable
Affirmed BBB+/Stable and J-2 on sr.debts and CP of Toshiba Finance
Affirmed BBB-/Stable on senior debts of Arysta LifeScience
JCR Placed Bank of Fukuoka under CM
JCR Placed Shinwa Bank under CM
May. 01, 2007
Affirmed A-/Stable and A- on sr.debts and bonds of Senko
Affirmed A/Stable on sr.debts of Paris Miki
Upgraded sr.debts of Sanyo Electric Railway to BBB/Stable
Removed CM and Upgraded rating for Orient Corporation to A-/Stable
Affirmed J-2 on CP of Toshiba Housing Loan Service
Affirmed BBB/Stable and J-2 on sr.debts and CP of Maruetsu
Apr. 27, 2007
Affirmed BBB+/Negative on senior debts of CAC Corporation
JCR Continues CM on NikkoCiti Trust and Banking with Positive direction
JCR Continues CM on Nikko Cordial Corporation with Positive direction
JCR Continues CM on Nikko Cordial Securities with Positive direction
Assigned BBB- to bonds of ES-CON Japan
Affirmed A on Nishi-Nippon Railroad and revised Outlook to Positive
Placed rating on CP of Central Finance under CM with Positive
Apr. 26, 2007
Assigned A to bonds of Sumitomo Realty & Development
Assigned A+ to sub.bonds of Sumitomo Trust & Banking
Assigned A+ to bonds of Hiroshima Bank
Upgraded sr.debts of Horiba to A/Stable
Affirmed BBB-/Stable on sr.debts of Kohnan Shoji
Upgraded rating on DC from BBB-/stable to BBB/Stable
Withdrawn BBB+ and J-2 rating on sr.debts and CP of Life
Affirmed A-/Stable and J-1 on LT/ST sr.debts of Kyoto Shinkin Bank
Apr. 25, 2007
Assigned BBB+/Stable to sr.debts of Central Tanshi Online Trading
Apr. 24, 2007