News Release

Jul. 15, 2025

Japan: Assigned Climate Transition Bond Evaluation: Green 1(T)

Canadian Solar Infrastructure Fund: Reviewed Green Finance Framework Evaluation: Green 1(F)

Eiwa Sangyou, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Jul. 14, 2025

JCR Affirmed A+ Long-term Issuer Rating on CRE Logistics REIT; Revised Outlook to Positive

JCR Affirmed A+/Stable Long-term Issuer Rating on Nishi-Nippon Railroad

JCR Affirmed A+/Stable and J-1 on LINTEC

JCR Affirmed BBB+/Stable (FC) and A-/Stable (LC) on Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara

JCR Affirmed AAAp/Stable Long-term Issuer Rating on European Bank for Reconstruction and Development

JCR Affirmed AA/Stable Long-term Issuer Rating on AEON REIT Investment Corporation

JCR Assigned A+ Rating to SPIRE SA Series 2025-352

JCR Assigned AA- to Sylph Limited Series 60231

JCR Affirmed A (fp) Fund Portfolio Rating on Renewable Trust

Jul. 11, 2025

JCR Affirmed A-/Stable Long-term Issuer Rating on IMPERIAL HOTEL

JCR Affirmed A/Stable and J-1 on Mitsui Mining and Smelting

JCR Affirmed AA-/Stable Long-term Issuer Rating on San-in Godo Bank

JCR Affirmed A+/Stable (FC) on NatWest Group and AA-/Stable (FC) on National Westminster Bank and NatWest Market

JCR's Rating Review of Five Expressway Companies
JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned A Rating to Bonds of UBE

JCR Assigned Preliminary A Rating to Shelf Registration of Sumitomo Osaka Cement

JCR Assigned Preliminary A+ Rating to Shelf Registration of NSK

Flowering, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Jul. 10, 2025

Establishment of JCR Sustaiable Deposit Methodology

JCR Upgraded Long-term Issuer Rating on ROYAL HD to BBB+/Stable

JCR Upgraded Long-term Issuer Rating on TOBU RAILWAY to A+/Stable; Assigned Preliminary A+ to Shelf Registration

JCR Affirmed A+ Long-term Issuer Rating on Keisei Electric Railway; Revised Outlook to Stable

JCR Affirmed AA/Stable Long-term Issuer Rating on Tokyo Waterfront Area Rapid Transit

JCR Affirmed A-/Stable and J-1 on UACJ

JCR Assigned A- Rating to Bonds of Kintetsu Group HD

JCR Assigned A+ Rating to Bonds of THK

JCR Assigned A+ Rating to Bonds of JGC HD

JCR Assigned AA- Rating to Bonds of LY Corporation

JCR Assigned Preliminary AA- Rating to Shelf Registration of ACOM

JCR Assigned AA- Rating to Bonds of Mizuho Leasing

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Assigned AA- to Cypher Limited Series 567

Jul. 09, 2025

JCR Affirmed BBB+/Stable Long-term Issuer Rating on GREE HD

JCR Assigned A- Rating to Bonds of DyDo GROUP HD

JCR Assigned A+ Rating to Bonds of Tokyu Fudosan HD

JCR Assigned Preliminary A- Rating to Shelf Registration of COSMO ENERGY HD

JCR Assigned Preliminary BBB to Securities of STARTS (Ireland) PLC

JCR Assigned A Rating to Bonds of SPIRE SA Series 2025-351

Japan: Assigned Climate Transition Bond Preliminary Evaluation: Green 1(T)

Jul. 08, 2025

JCR Affirmed A+/Stable and J-1 on Daicel

JCR Affirmed A/Stable and J-1 on DIC

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Assigned A Rating to Bonds of NEC Capital Solutions

JCR Assigned Preliminary AA- Rating to Shelf Registration of JFE HD

JCR Assigned Preliminary AA+ Rating to Shelf Registration of Electric Power Development

JCR Assigned AA- to Sylph Limited Series 60229

Jul. 07, 2025

JCR Affirmed AA+p/Negative Long-term Issuer Rating on Astellas Pharma

JCR Affirmed A-/Stable and J-1 on SINANEN HD

JCR Assigned AA- Rating to Bonds of SPIRE SA Series 2025-64

Results of Review of Structured Finance Products (Excluding Those to Which Credit Ratings Are Assigned) June 2025

Jul. 04, 2025

JCR Upgraded Long-term Issuer Rating on KYORITSU MAINTENANCE to BBB+/Stable

JCR Affirmed AA-/Stable Long-term Issuer Rating on MORI BUILDING; Assigned J-1+ to CP

JCR's Rating Review of Major Non-Life Insurance Groups

JCR Affirmed AAA/Stable Long-term Issuer Rating on Tokio Marine HD; Affirmed AAA/Stable and J-1+ on Tokio Marine & Nichido Fire Insurance

JCR Affirmed AA+/Stable on Sompo HD and Sompo Japan Insurance

JCR Affirmed AA+/Stable Long-term Issuer Rating on MS&AD Insurance Group HD; Affirmed AA+/Stable and J-1+ on Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance

JCR Affirmed A+/Stable FC Long-term Issuer Rating on America Movil

JCR Affirmed A/Stable and J-1 on PENTA-OCEAN CONSTRUCTION

JCR Affirmed A-/Stable Long-term Issuer Rating on HOKUTO

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned AA- Rating to Bonds of Hulic

JCR Assigned #AA-/Negative Rating to Bonds (Tier 2 with loss absorption clause) of Gunma Bank

JCR Assigned AA Rating to Bonds of Resona HD

JCR Assigned Preliminary AA- Rating to Shelf Registration of ENEOS HD

Jul. 03, 2025

JCR Affirmed A/Stable Long-term Issuer Rating on Yamagata Bank

JCR Assigned AA Rating to Bonds of Chubu Electric Power

JCR Assigned A+ Rating to Bonds of YOKOHAMA MINATOMIRAI RAILWAY

JCR Assigned A+ Rating to Subordinated Loan of NIPPON STEEL

JCR Assigned AA Rating to Bonds of Sumitomo Mitsui Trust Panasonic Finance

JCR Assigned AA Rating to Bonds of Mitsubishi HC Capital

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned AA Rating to Bonds of Electricite de France

JCR Upgraded SPIRE SA Series 2022-324 and SPIRE SA Series 2023-271 to AA+

JCR Upgraded SPIRE SA Series 2025-08 to AA+

SMEs, The Bank of Kyoto: Second Party Opinion on Sustainability Linked Loan Framework (Review)

The Bank of Kyoto: Second Opinion on Sustainable Deposit Framework (Review)

Jul. 02, 2025

JCR Affirmed A-/Stable FC Long-term Issuer Rating on SAN MIGUEL

JCR Affirmed AA/Stable Long-term Issuer Rating on Japan Logistics Fund

JCR Assigned Preliminary AA- Rating to Bonds (Tier 2 with loss absorption clause) of Mitsubishi UFJ Financial Group

Jul. 01, 2025

Hulic Launches Tender Offer for Canadian Solar Infrastructure Fund—JCR Will Watch Outcome of TOB

JCR Affirmed BBB+/Positive Long-term Issuer Rating on Ferrotec

JCR Affirmed AA/Stable and J-1+ on Suntory HD

JCR Affirmed AA/Stable and J-1+ on Suntory Beverage & Food

JCR Affirmed AA-/Stable Long-term Issuer Rating on HEIWA REAL ESTATE REIT

JCR Affirmed A+/Stable Long-term Issuer Rating on Nochu JAML REIT Investment Corporation

JCR Assigned Preliminary A- Rating to Bonds of Far East Horizon

THE KAGOSHIMA BANK: Second Party Opinion on Kagin Sustainable Finance (Green Loan/Social Loan) Framework

Odazo Seihun, The Chugoku Bank: Second Opinion on Positive Impact Finance

Jun. 30, 2025

Change in CP Maximum Amount of Idemitsu Credit; Affirmed J-1

JCR Assigned A+ Rating to Subordinated Loan of DAIWA HOUSE INDUSTRY

[ Asset Securitization Products ] JCR Assigned J-1+ to Telecommunication Fee Receivable Securitization ABL Program (Japan Securitization Corporation_2506)

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to Beneficial Interest 202508 (Contract No. 250048)

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank A Corporation Bills & Electronically Recorded Receivables ABL 25-06

JCR Assigned AA- to Securitization of Leases Receivable from SB 202506

JCR Assigned AA- to Securitization of Loans Receivable from SB 202506

TOUWAKAI（Touma hospital）: Assigned Social Loan Framework Evaluation: Social 1(F)

The Senshu Ikeda Bank: Second Opinion on Sustainable Deposit Framework