News Release

Mar. 17, 2008: Assigned BBB/Stable to senior debts of Daiken Corporation; Affirms AAA/AAA (FC/LC) Ratings on Kingdom of Norway; Outlook Stable; Placed Bear Stearns' #AA- under Monitor Developing

Mar. 14, 2008: Assigned J-1 to healthcare fees receivable ABL08-03 (A Hospital); Affirmed AA on bonds of SCB Securitization; Affirmed BBB+/Stable on sr.debts of Mitsubishi Electric Credit; Affirmed BBB/Stable and J-2 on sr.debts and CP of Okabe; Affirmed BBB-/Stable on senior debts of Nakabayashi

Mar. 13, 2008: Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 08-03; Assigned J-1 to healthcare fees receivable ABL08-03 (Kyowakai); Assigned J-1 to healthcare fees receivable ABL08-03 (B Hospital); Assigned BB+/Stable to senior debts of Takeei; Affirmed AA+ for AIG Edison Life Insurance; Revised outlook to Negative

Mar. 12, 2008: Assigned A+ to bonds of Shimadzu Corporation; Affirmed BBB/Stable on senior debts of Tokyo Derica; Affirmed AA-/Stable on sr.debts of Shinkin Guarantee Fund; Affirmed AAA/Stable on sr.debts of Shinkin Central Bank

Mar. 11, 2008: Affirmed A/Stable rating on senior debts of Shinsei Bank; Affirmed A+/Stable and A on Musashino Bank; Assigned AA- to subordinated bonds of Nomura Securities; Downgraded senior debts of Touei Housing to BBB-/Negative

Mar. 10, 2008: Affirmed A on Hamamatsu Photonics; Revised outlook to Positive; Affirmed A/Stable and A on sr.debts and bonds of Kureha; Affirmed AA+p/Stable on senior debts of Shin-Etsu Chemical; Affirmed BBB+/Stable and BBB+ on sr.debts and bonds of Belluna; Removed CM: Affirmed A+/Stable on senior debts of TOC; Affirmed A/Stable and A- on sr.debts and sub.bonds of Chukyo Bank

Mar. 07, 2008: Assigned J-1 to Nohara Bills Receivable ABL08-03; Assigned preliminary A- to shelf registration of Tokyu Land; Assigned preliminary A+ to shelf registration of Tokyu; Affirms A-/A (FC)/(LC) Ratings on The Republic of Hungary; Affirms A-/A (FC)/(LC) Ratings on The Republic of Hungary; Removed rating on NIS Group from CM and affirmed BB/Stable; Removed rating on NIS Group from CM and affirmed BB/Stable; Downgraded senior debts of Saikyo Bank to BBB/Stable; Downgraded rating on Suruga to #BBB-/Negative; CM continues; Downgraded ShinGinko Tokyo to #A with Negative direction to CM

Mar. 06, 2008: Assigned J-1+ to JUTEC Bills Receivable ABL08-03; Affirmed A+/Stable on sr.debts of Kenedix Realty Investment; Affirmed BB/Stable on senior debts of Medical Corporation Tokushinkai Group

Mar. 05, 2008: JCR Affirmed AAA/Stable on NTT DoCoMo
JCR Affirmed J-1+ on its regional subsidiaries; Affirmed AA/Stable on sr.debts; Assigned AA to bonds of Urban Renaissance Agency; Affirmed BBB+/Stable on senior debts of Dainippon Screen; Affirmed BBB- on Showa Aircraft Industry; Revised outlook to Positive; Affirmed J-1+ on CP of Nippon Telegraph and Telephone West Corporation; Affirmed J-1+ on CP of Nippon Telegraph and Telephone East Corporation; Affirms AA (FC) rating on DnB NOR BANK ASA; Outlook Stable; Assigned AAA to bonds of Tokyo Electric Power Company; Assigned AAA to bonds of Japan Finance Corporation for Small and Medium Enterprise; Assigned A- rating to bonds of Nippon Mining Holdings

Mar. 04, 2008: Placed ratings on Suruga Corporation under CM with Negative (#BBB/Negative); Assigned pre. AA- to shelf registration (dated sub. bonds) of Nomura Securities; Downgraded senior debts of Aomori Shinkin Bank to BBB/Negative; Affirmed BBB/Stable on senior debts of Sintokogio; Affirmed BBB/Stable on senior debts of Daisyo

Mar. 03, 2008: Assigned J-1 to Hayakawa Rubber Bills Receivable ABL08-03; Assigned BBB+/Stable to senior debts of Ueda Harlow; Assigned preliminary A- rating to shelf registration of Nippon Mining Holdings; Affirmed A on Shikoku Bank; Revised Outlook to Stable; Affirmed AA-/Stable on senior debts of Nomura Trust & Banking; Assigns BBB+ to bonds of LS Cable

Feb. 29, 2008: Assigned J-1 to Toda Kogyo Bills Receivable ABL08-02; Assigned J-1+ to Teral Kyokuto Bills Receivable ABL08-02; Assigned J-1 to Molten Bills Receivable ABL08-02; Upgraded TonenGeneral Sekiyu to AA-/Stable and J-1+; Affirmed AAp/Stable on Japan Earthquake Reinsurance; Affirmed BBB+/Stable on senior debts of Chuo Warehouse; Affirmed BBB-/Stable on senior debts of Harima-Kyowa; Revised outlook for OMC Card to Positive from Developing; JCR Affirmed BBB+ Ratings on IRFC; Affirmed AA/Stable and J-1+ on sr.debts and CP of NTT Finance

Feb. 28, 2008: Assigned J-1 to Aso Shoji Bills Receivable ABL08-02; Assigned J-1 to Nippon Tungsten Bills Receivable ABL08-02; Assigned A- to bonds of All Nippon Airways; Assigned A+ to subordinated CB (Hybrid Sec.) of JFE Holdings; Assigned preliminary A+ to shelf registration of Shimadzu Corporation; Assigned A-/Stable to senior debts of Nittetsu Mining

Feb. 27, 2008: Assigned J-1 to Bills Receivable ABL08-02 (B Corporation in Mie); Assigned J-1 to Osaka Steel Tube Bills Receivable ABL08-02; Assigned A- to bonds of Sumitomo Osaka Cement; Assigned A+ to subordinated bonds of Mizuho Corporate Bank; Affirmed BBB+/Stable on senior debts of Yasuda Warehouse; Affirmed A- on Aoki Holdings; Revised outlook to Positive

Feb. 26, 2008: Assigned J-1 to SEIBUKIZAI Bills Receivable ABL08-02; JCR Upgraded sr.debts of Hokuhoku Financial Group to A-/Positive
JCR Upgraded sr.debts of Hopkuriku Bank to A-/Positive
JCR Upgraded sr.debts of Hokkaido Bank to A-/Positive; Affirmed A-/Stable and J-1 on sr.debts and CP of Keihan Electric Railway; Downgrades GMAC to #BB-/Negative; Assigned BBB to preferred stock (Hybrid) of Mori Building

Feb. 25, 2008: Assigned J-1 to Bills Receivable ABL08-02 (A Corporation in Aichi); Assigned J-1 to Nakagawa Seitaikako Bills Receivable ABL08-02; Assigned J-1+ to MSNW Trust Certificate Series 08020; Affirmed A-/Positive on senior debts of Okamura Corporation; Upgraded sr.debts of Organization for Small & Medium Enterprises and Regional Innovation to AA/Stable from AA-/Stable; Affirmed A- on Aderans; Revised outlook to Negative

Feb. 22, 2008: Assigned J-1 to Toyoshima Bills Receivable ABL08-02; Assigned J-1 to Fuji Shokai Bills Receivable ABL08-02; Affirmed A-/Stable and A- on sr.debts and bonds of Senko; Assigned preliminary A to shelf of Denki Kagaku Kogyo; Rating on Ikeda Bank still under Credit Monitor #A/Negative; Affirmed BBB+/Positive on sr.debts of Hiroshimashi Credit Cooperative

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