News Release

Nov. 06, 2007: Affirmed AA-/Stable on senior debts of Sumitomo Chemical; Affirmed A+p/Stable on senior debts of Kansai Paint; Affirmed BBB/Stable on senior debts of Nippon Light Metal; Affirmed A+p/Stable on senior debts of Mitsui Chemicals; Assigned AAA to bonds of Tokyo Electric Power Company; Assigned AAA to bonds of Chugoku Electric Power Company; Upgraded Fuji Life Insurance to A/Stable; Upgraded Fuji Fire & Marine Insurance to A+/Stable

Nov. 05, 2007: Assigned J-1 to Hayakawa Rubber Bills Receivable ABL07-11; JCR Affirmed A on EMTN of Marubeni
JCR Affirmed A on EMTN of Marubeni Europe
JCR Affirmed A on EMTN of Marubeni Finance Holland; Affirmed AAA on EMTN of Tokio Marine Financial; Assigned preliminary #BBB+/Positive to shelf of Jaccs; Affirmed BBB/Stable and J-2 on sr.debts and CP of Joshin Denki; Assigned preliminary BBB+ to shelf registration of Elpida Memory; Upgraded sr.debts of San-Ai Oil to BBB+/Stable from BBB/Stable; Downgraded Rating on GMAC from BBB- to #BB+[Negative]; Placed Rating under Credit Monitor

Nov. 02, 2007: Affirmed A+/Stable on senior debts of Hekikai Shinkin Bank; Assigned #BBB+/Positive to bonds of Pocket Card; Affirmed AA/Stable on senior debts of Toho; Assigns A+ Ratings to IBK's Yen Bonds; Affirmed A/Positive on sr.debts of Okazaki Shinkin Bank

Nov. 01, 2007: Assigned preliminary A- to shelf of Kawasaki Heavy Industries; Assigned A- to subordinated bonds of Taiko Bank

Oct. 31, 2007: Assigned J-1 to Aso Shoji Bills Receivable ABL07-10; Assigned AA- to Softbank Mobile Leases & Loans Securitization; Assigned J-1+ to Teral Kyokuto Bills Receivable ABL07-10; Assigned AA- to Softbank Mobile Leases & Loans Securitization; Assigned J-1 to Toda Kogyo Bills Receivable ABL07-10; Placed Nichias under CM with Negative direction; Affirmed A-/Stable on senior debts of Sumitomo Osaka Cement; Affirmed BBB+p/Stable on senior debts of Taiheiyo Cement; Affirmed BBB+/Stable on senior debts of Daiwabo Information System; Assigned BBB+ to bonds of Accordia Golf; Assigned preliminary AA to shelf registration

Oct. 30, 2007: Assigned J-1 to Nippon Tungsten Bills Receivable ABL07-10; Assigned J-1 to MoonStar Bills Receivable ABL07-10; Assigned preliminary A- to shelf of Nishi-Nippon City Bank　（Corrected）; Affirmed A-/Stable on senior debts of Shizuoka Shinkin Bank

Oct. 29, 2007: Assigned J-1 to Osaka Steel Tube Bills Receivable ABL07-10; Assigned J-1 to Bills Receivable ABL07-10 (B Corporation in Mie); Assigned J-1 to CP program of Nippon Steel Logistics; Affirmed BBB+/Stable and J-2 on senior debts and CP of Hanwa

Oct. 26, 2007: Assigned J-1 to SEIBUKIZAI Bills Receivable ABL07-10; Affirmed A-/Stable on senior debts of Nippon Thompson; Upgraded sr.debts of Tokyu to A+: Revised outlook to Stable; Affirmed A-/Stable on senior debts of Keisei Electric Railway; Affirmed AA/Stable and J-1+ on sr.debts and CP of Keio Corporation; Affirmed BBB+/Stable on senior debts of Sagami Railway; Affirmed BBB/Stable on senior debts of Tobu Railway; Assigned A+/Stable to senior debts of Keihin Electric Express

Oct. 25, 2007: Assigned J-1 to Nakagawa Seitaikako Bills Receivable ABL07-10; Assigned J-1+ to MSNW Trust Certificate Series 07100; Assigned J-1 to Toyoshima Bills Receivable Certificates/ABL07-10; Assigned A- to bonds of Tokyu Land; Assigned AA+ to bonds of Japan Student Services; Assigned AA+ to bonds of Japan Water Agency; Assigned preliminary A- to shelf registration of Fuji Electric Holdings

Oct. 24, 2007: Assigned J-1 to Fuji Shokai Bills Receivable ABL07-10; Assigned J-1 to Bills Receivable ABL07-10 (A Corporation in Aichi); Assigned AAA to bonds of Japan Bank for International

Oct. 23, 2007: Assigned J-1 to healthcare fees ABL07-10 (Asahikawa Sanai HP); Assigned A+ to bonds of Kobe Steel; Affirmed A+/Stable on senior debts of Obayashi; Affirmed BBB-/Stable on Marubeni Construction Material Lease; Affirmed A+p/Stable on senior debts of Shimizu Corporation; Assigned BBB to bonds of Sojitz; Assigned A to bonds of Sumitomo Realty & Development

Oct. 22, 2007: Assigned J-1 to healthcare fees receivable ABL07-10 (C Hospital); Assigned AA- to EMTN of Sumitomo Mitsui Finance and Leasing; Removed CM and upgraded rating on Tokai Pulp to BBB; Affirmed A-/Stable on senior debts of Maruzen Showa Unyu; Upgraded sr.debts of BOT Lease to A/Stable and affirmed J-1 on CP; Affirmed A+p/Stable on senior debts of NSK; Placed rating on CP of Seiyu under CM with Positive; Assigned BBB/Stable to senior debts of Tokushu Tokai Holdings; Withdrawn BBB/Stable on senior debts of Tokai Pulp & Paper

Oct. 19, 2007: Affirmed BBB/Negative on senior debts of Hokuto Bank; Assigned AA- to bonds of Mitsubishi UFJ Lease & Finance; Affirmed A-/Stable on senior debts of CMK; Affirmed BBB+/Stable on senior debts of TOA; Assigned BBB/Stable to senior debts of Oenon Holdings

Oct. 18, 2007: Assigned J-1 to healthcare fees ABL07-10 (D Hospital); Assigned AA to bonds of Kansai International Airport; Affirmed AA/Stable on senior debts of Oriental Land; Affirmed AA+/Stable for AIG Edison Life Insurance; Downgraded OMC Card to BBB; Revising outlook to Developing

Oct. 17, 2007: Assigned J-1 to healthcare fees ABL07-10 (Heiwa & Konbu Onsen); Assigned J-1 to Kurashiki Medical Center Trust Certificates 07-10; Assigned J-1 to healthcare fees ABL07-10 (E Hospital); Affirmed A-/Stable on senior debts of Ikubunkan Yume-Gakuen; Assigned preliminary BBB+ to shelf registration of Matsui Securities; Assigned BBB+/Stable to senior debts of Tohoku Bank; Affirmed A-/Stable on senior debts of Taiho Kogyo; Affirmed A/Stable on senior debts of Fuyo General Lease; Assigned AA- to bonds of Mizuho corporate Bank; Affirmed AA/Stable on senior debts of Asahi Kasei

Oct. 16, 2007: Assigned J-1 to healthcare fees receivable ABL07-10 (A Hospital); Affirmed A+ on bonds of Dai-ichi Life Dai2kai Kikin Ryudouka Tokutei Mokuteki Kaisha; Affirmed A- on bonds of Sumitomo Life Fund Securitization Special Purpose Company; Assigned J-1 to healthcare fees receivable ABL07-10 (Kyowakai)

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