News Release

Mar. 08, 2010

Affirmed BBB+/Stable on Kowa Real Estate

Affirmed A and J-1 on Takashimaya; Revised outlook to Negative

Assigned preliminary A+ rating to shelf of Tokyu Corporation

Affirmed A- and J-1 on Tokyu Land; Revised outlook to Negative

Affirmed J-1+ on CP of Nippon Telegraph and Telephone West Corporation

Affirmed A-/Stable on sr.debts of H2O Retailing

Affirmed A on J.Front Retailing; Revised outlook to Negative

Mar. 05, 2010

Affirmed BBB+/Stable on sr.debts of Settsu Suito Shinkin Bank

Assigned AAA rating to bonds of Kyushu Electric Power Company

Assigned BBB+ rating to bonds of Softbank

Assigned A+ rating to bonds of Itochu

Assigned preliminary A- rating to shelf of Hulic

Assigned A- to bonds of Nagoya Railroad

Affirms BBB+/A-(FC/LC) on Hungary and National Bank of Hungary; Outlook Stable

Affirms BBB+ Ratings (FC/LC) on Indian Railway Finance; Outlook Stable

Mar. 04, 2010

Assigned BBB+ to subordinated bonds of Tokyo Tomin Bank

Affirmed BBB on Shinnihon Corporation; Revised outlook to Stable

Affirmed BBB/Stable on senior debts of Tokyo Derica

Assigned AA- rating to bonds of Mitsubishi UFJ Lease & Finance

Mar. 03, 2010

Affirms AA- Ratings on Corporacion Andina de Fomento; Outlook Stable

Assigned AA+ rating to bonds of Osaka (City of)

Affirmed A/Stable rating on Hamamatsu Photonics

Mar. 02, 2010

Affirmed AA/Stable and J-1+ on sr.debts and CP of Bridgestone

Assigned A rating to bonds of Marubeni

Affirmed A-/Stable rating on Aica Kogyo

Mar. 01, 2010

Assigned A/Stable rating to senior debts of Taisei Corporation

Affirms A/A+ (FC/LC) ratings on Czech Republic: Outlook Stable

Affirmed BBB/Negative rating on sr.debts of Tsukuba Bank

Withdraws BB+/Negative rating on sr.debt of Tohoku Misawa Homes

Feb. 26, 2010

Assigned J-1+ to Teral Bills Receivable ABL10-02

Assigned J-1 to Molten Bills Receivable ABL10-02

Assigned J-1+ to Bills Receivable ABL10-02 (A Corp. in Niigata)

Assigned J-1 to Hayakawa Rubber Bills Receivable ABL10-02

Assigned AA rating to bonds of JFE Holdings

Affirmed BBB+/Stable on senior debts of Roland

Withdraws J-1+ rating on short-term sr.debts of Hiroshima Bank

Affirmed A-/Stable on senior debts of J-OIL MILLS

Feb. 25, 2010

Assigned J-1 to Aso Shoji Bills Receivable ABL10-02

Assigned J-1+ to A&D Bills Receivable Beneficial Interest 10-02

Assigned J-1+ to C Corporation Bills Receivable ABL10-02

Assigned J-1 to Bills Receivable ABL10-02 (B Corporation in Mie)

Assigned J-1+ to MSNW Trust Certificate Series 10020

Affirms AAA ratings on Kingdom of the Netherlands : Outlook Stable

Assigned A- to subordinated bonds of Nanto Bank

Feb. 24, 2010

Assigned J-1 to Osaka Steel Tube Bills Receivable ABL10-02

Assigned J-3 to Monthly Clear Card Shopping Receivable ABL10-02

Affirmed BBB+/Stable on senior debts of Chuo Warehouse

Assigned AA- rating to sub. bonds of Mitsubishi UFJ Trust & Banking

Assigned A rating to bonds of Orix

Affirmed Ap on Toyo Ink Mfg.; Revised outlook to Stable

Affirmed A-/Stable and J-1 on Sanyo Special Steel

Assigned AA- to bonds of Mitsui Fudosan

Feb. 23, 2010

Assigned J-1 to Fuji Shokai Bills Receivable ABL10-02

Assigned J-1 to dispensing fees ABL10-02 (Nanba Pharmacy)

Affirmed BBB-/Stable on Towa Bank

Assigned preliminary A- rating to shelf of Promise

Assigned A- rating to sub.loan (Hybrid) of Yokogawa Electric

Assigned preliminary A to shelf reg. of Denki Kagaku Kogyo

Affirmed J-2 on CP of Furukawa Electric

Affirms AAA ratings on Kingdom of Denmark: Outlook Stable

Feb. 22, 2010

Assigned J-1 to Medical Fees Receivable ABL10-02 (C Hospital)

Assigned J-1 to Medical Fees Receivable ABL10-02 (Asahikawa Sanai Hospital)

Feb. 19, 2010

Assigned J-1 to Medical Fees Receivable ABL10-02 (Shuyukai)

Assigned J-1 to Medical Fees Receivable ABL10-02 (G Hospital)

Withdraws BBB-/Negative rating on senior debts of SBI Mortgage

Affirmed BBB on Saikyo Bank; Revised outlook to Positive

Affirmed A/Stable and J-1 on IBJ Leasing

Assigned AA rating to bonds of Urban Renaissance Agency

Assigned A- rating to bonds of Mori Building

Assigned preliminary A- rating to shelf of Orient Corporation

Feb. 18, 2010

Assigned J-1 to Medical Fees Receivable ABL10-02 (D Hospital)

Assigned J-1 to Castem Bills Receivable ABL10-02

Assigned J-1 to Kurashiki Medical Center Beneficial Interest 10-02

Assigned J-1 to Medical Fees Receivable ABL10-02 (Kyowakai)

Assigned J-1 to Medical Fees Receivable ABL10-02 (I Hospital)

Assigned J-1 to Medical Fees Receivable ABL10-02 (H Hospital)

Downgraded ratings on Willcom to D

Affirmed AA on Sumitomo Wiring Systems; Revised outlook to Stable

Affirmed AA on Sumitomo Electric Industries; Revised outlook to Stable

Feb. 17, 2010

Assigned J-1 to Medical Fees Receivable ABL10-02 (J Hospital)

Assigned J-1 to Medical Fees Receivable ABL10-02 (E Hospital)

Assigned J-3 to Narasaki Stax Accounts Receivable ABL10-02

Assigned J-1 to dispensing fees ABL10-02 (sun-kur Corporation)

Assigned J-1 to Medical Fees Receivable ABL10-02 (F Hospital)

JCR Affirmed A+/Stable for Cheung Kong (Holdings) Limited
JCR Affirmed A+ for Cheung Kong Finance Japan

Assigned AAA to bonds of Aichi Prefecture

Affirmed AA/Stable and AA on sr.debts and bonds of Urban Renaissance Agency

Affirmed A/Stable on First Bank of Toyama

Affirmed BBB+/Stable and J-2 rating on Mitsubishi Electric Credit

Downgraded rating on Nippon Yusen to AA-; Outlook Stable

Affirms A+ Ratings to Central American Bank for Economic Integration, outlook stable

Affirmed preliminary A- rating on bonds of Mori Building

Feb. 16, 2010

Assigned J-1+ to Takeda Gen. Hospital Beneficial Interest 10-02

Affirmed AA-p/Stable on sr.debts of FamilyMart

Affirmed AAA/Stable on sr.debts of Hitotsubashi University

Affirmed BBB-/Stable on Mitsubishi Paper Mills

Affirmed J-1 on CP of Sumishin Matsushita Financial Services

Feb. 15, 2010

Assigned pre. J-1+ to A&D Bills Receivable Beneficial Int. 10-02

Affirmed AA-/Stable and J-1+ on Mitsui Fudosan

Affirmed AA+/Stable on sr.debts of Aoyama Gakuin