News Release

May. 23, 2008: Assigned J-1 to Fuji Shokai Bills Receivable ABL08-05; Assigned preliminary A- to shelf registration of Nagoya Railroad; Affirmed BBB/Stable and J-2 on Toshiba Housing Loan Service; Affirmed BBB+/Stable and J-2 on Toshiba Finance; Placed rating on Cosmo Securities under CM with Positive; Assigned A to bonds of Marubeni; Assigned AA- to bonds of Mitsubishi UFJ Lease & Finance

May. 22, 2008: Assigned J-1 to healthcare fees ABL08-05 (Asahikawa Sanai HP); Assigned BBB/Stable to senior debts of Fukuho Bank; Affirmed A/Stable and A- on Hokuetsu Bank; Affirmed A-/Stable on sr.debts of Takasago International; Assigned AA- to bonds of Mitsui Fudosan; JCR Removed CM; Affirmed AA- and J-1+ on Mizuho Securities
JCR Removed CM; Affirmed AA-, A+ and J-1+ on Shinko Securities; Assigned AAA to bonds of Electric Power Development

May. 21, 2008: Affirmed BBB/Stable and J-2 on Daiei Real Estate & Development; Assigned A to bonds of Yokohama Rubber

May. 20, 2008: Assigned J-1 to healthcare fees receivable ABL08-05 (C Hospital); JCR Affirmed A-/Stable and J-1 on LT/ST sr.debts of Ueda Yagi Tanshi
JCR Affirmed A-/Stable and J-1 on LT/ST sr.debts of Central Tanshi
JCR Affirmed A-/Stable and J-1 on LT/ST sr.debts of Tokyo Tanshi; Affirmed BBB+/Stable on sr.debts of Central Tanshi Online Trading; Affirmed A+/Stable on senior debts of Shiga Bank; Assigned AAA to bonds of National Life Finance; Affirmed A-/Stable and A- on sr.debts and bonds of T.Hasegawa; Assigned AAA to bonds of Tokyo Electric Power Company; Affirmed A-/Stable and A- on Heiwa Real Estate; Assigned AAA to bonds of Japan Bank for International

May. 19, 2008: Assigned J-1 to Kurashiki Medical Center Trust Certificates 08-05; Affirmed A-/Stable and BBB+ on Bank of The Ryukyus; Affirmed AA+/Stable and J-1+ on Toa Reinsurance; Affirmed AA+/Stable and AA+ on Japan Water Agency; Upgraded rating on Nankai Electric Railway to BBB+/Stable

May. 16, 2008: Assigned J-1 to healthcare fees ABL08-05 (D Hospital); Assigned J-1 to healthcare fees ABL08-05 (F Hospital); Assigned J-1 to healthcare fees ABL08-05 (E Hospital); Assigned J-1 to healthcare fees receivable ABL08-05 (A Hospital); Assigned preliminary A- to shelf registration of Toyobo; Assigned AA to bonds of Nippon Steel; Assigned BBB+ to bonds of Nippon Sheet Glass; Assigned A to bonds of Mitsui Mining & Smelting; Assigned AA to sr.debts of Rohm; Assigned AA+ to bonds of Osaka (City of)

May. 15, 2008: Assigned J-1 to healthcare fees receivable ABL08-05 (Kyowakai); Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 08-05; Upgraded rating on Matsuda Sangyo to BBB+/Stable; Affirmed BBB+/Stable on Kitz; Affirmed AA- and A+ on bonds and sub.bonds of Hokkoku Bank; Assigned AAA to bonds of Development Bank of Japan; Assigned AA to bonds of JFE Holdings; Assigned AA+ to bonds of Osaka (City of); Assigned AAA to bonds of Chugoku Electric Power Company

May. 14, 2008: Affirmed A on Shonai Bank; Revised outlook to Negative; Affirmed BBB/Stable on sr.debts of DC; Placed rating on Hokuto Bank under Developing (#BBB and #BBB-)

May. 13, 2008: Affirmed BBB on secured senior loan of WBBL; Assigned J-1 to healthcare fees receivable ABL08-05 (B Hospital); Assigned AAA to bonds of Kansai Electric Power Company; Upgraded rating on Nishi-Nippon Railroad to A+/Stable

May. 12, 2008: Assigns A (FC) Rating to Shinhan Card; Affirmed BB on NIS; Revised outlook to Negative; Affirmed BB on NIS; Revised outlook to Negative; Upgraded Nishi-Nippon City Bank to A/Stable; Affirmed BBB-/Stable on Okaya Electric Industries

May. 09, 2008: Assigned J-1 to Nohara Bills Receivable ABL08-05; Affirmed BBB-/Stable on sr.debts of Nissen Holdings; Affirmed A/Stable and A for Horiba; Assigned preliminary BBB+ to shelf registration of Ube Industries; Affirmed BBB-/Stable and J-2 on ES-CON Japan; Placed rating on AIG Edison Life Insurance under CM with Negative #AA+; Affirmed J-2 on CP of Toyo Tire & Rubber

May. 08, 2008: Assigned A-/Stable to senior debts of Seto Shinkin Bank; Affirmed BBB and J-2 on Fukuda; Revised outlook to Negative; Assigned preliminary A to shelf registration of Kureha; Assigned preliminary AA+ to bonds to be issued by Osaka (City of); Assigned preliminary BBB+ to shelf registration of Tonami Transportation

May. 07, 2008: Affirmed BBB/Stable on Southern Tohoku Research Institute for Neuroscience; Affirmed BBB/Stable on sr.debts of Kisoji; Assigned preliminary AA- to shelf registration of Tokai Rubber Industries

May. 02, 2008: Affirmed A-/Stable and J-1 on sr.debts and CP of Central Glass; Affirmed A/Stable and J-1 on Nippon Car Solutions; Affirmed BBB+/Stable and J-2 on sr.debts and CP of Gecoss; Affirmed BBB-/Stable on Kappa Create

May. 01, 2008: Affirmed A+/Stable on sr.debts of Daishi Bank; Affirmed A/Stable and J-1 on Taiyo Nippon Sanso; Affirmed A-/Stable on sr.debts of Yokohama Reito; JCR Assigned AA-/Negative and J-1+ to Nikko Citi Holdings
JCR Affirmed AA-/Negative and J-1+ on Nikko Cordial Securities; Downgrades GMAC to #B+/Negative; Affirmed AA-・Negative on NikkoCiti Trust; Outlook Negative

Apr. 30, 2008: Assigned J-1+ to Teral Kyokuto Bills Receivable ABL08-04; Assigned J-1 to Toda Kogyo Bills Receivable ABL08-04; Assigned J-1 to Hayakawa Rubber Bills Receivable ABL08-04; Assigned J-1 to Molten Bills Receivable ABL08-04; Withdrawn AA+/Stable on Nisshin Fire & Marine Insurance

Apr. 28, 2008: Assigned J-1 to Nippon Tungsten Bills Receivable ABL08-04; Assigned J-1 to Aso Shoji Bills Receivable ABL08-04; Affirmed BBB+/Stable and J-2 on sr.debts and CP of Elpida Memory; Affirmed BBB-/Stable on sr.debts of Kyoritsu Maintenance; Withdrawn shelf registration of Nippon Steel

Apr. 25, 2008: Assigned J-1+ to MSNW Trust Certificate Series 08040; Assigned J-1 to Bills Receivable ABL08-04 (B Corporation in Mie); Assigned J-1 to Bills Receivable ABL08-04 (A Corporation in Aichi)

Release Information: News Release; Issuer Reports; Reports relating to Issuer; JCR News