News Release

Nov. 26, 2008: Downgraded rating on Prospect Residential Investment to BBB+/Negative

Nov. 25, 2008: Assigned J-1+ to MSNW Trust Certificate Series 08110; Assigned J-1 to Fuji Shokai Bills Receivable ABL08-11; Assigned preliminary A+ to shelf registration of THK; Affirmed BBB/Stable on senior debts of Namura Shipbuilding; Downgrades GMAC to #CCC/Negative; Affirmed A on EMTN of BOT Lease; JCR Rating on Nikko Citi Holdings still under Credit Monitor #A+/Negative
JCR Rating on Nikko Cordial Securities still under Credit Monitor #A+/Negative
JCR Rating on NikkoCiti Trust and Banking still under Credit Monitor #A+/Negative

Nov. 21, 2008: Assigned J-1 to Bills Receivable ABL08-11 (A Corporation in Aichi); Affirmed AA on bonds of SCB Securitization; Affirmed BBB/Stable on senior debts of Tokushu Tokai Holdings; Downgraded long-term rating on Elpida Memory to BBB/Negative; Affirmed AA- on Shinkin Guarantee Fund; Revised outlook to Negative; Affirmed AAA on Shinkin Central Bank; Revised outlook to Negative; Assigned AAA to bonds of Tokyo Electric Power Company

Nov. 20, 2008: Assigned J-1 to healthcare fees ABL08-11 (Asahikawa Sanai HP); Assigned J-1+ to Chudai Jitugyo Bills Receivable ABL08-11; Assigned J-1 to healthcare fees ABL08-11 (D Hospital); Affirmed A on Nifco; Revised outlook to Stable from Positive; Affirmed J-2 on CP of Mitsubishi Materials; Assigned AAA to bonds of Kansai Electric Power; Placed rating on Vital-Net under Credit Monitor Positive (#BBB); Assigned AAA to bonds of Kyushu Electric Power; Assigned AA- to bonds of Orix

Nov. 19, 2008: Assigned J-1 to healthcare fees receivable ABL08-11 (C Hospital); Assigned AAA to bonds of Tokyo Electric Power Company

Nov. 18, 2008: Assigned J-1 to dispensing fees ABL08-11 (sun-kur Corporation); Assigned J-1 to healthcare fees ABL08-11 (E Hospital); Assigned J-1 to healthcare fees ABL08-11 (F Hospital); Affirmed A/Stable and A on sr.debts and bonds of Hokuetsu Paper Mills

Nov. 17, 2008: Assigned J-1 to Kurashiki Medical Center Trust Certificates 08-11; Assigned J-1 to healthcare fees receivable ABL08-11 (Shuyukai); JCR Affirmed AA-/Stable on Mitsui O.S.K. Lines; Affirmed A/Stable and J-1 on sr.debts and CP of Kawasaki Kisen; Affirmed A/Stable on senior debts of Calsonic Kansei; JCR Assigned AA- to euroyen notes of Mitsui O.S.K. Finance Plc; JCR Affirmed AA- on EMTN of Mitsui O.S.K. Lines
JCR Affirmed AA- on EMTN of Euromol; Affirmed BBB/Positive on Chiba Kogyo Bank; Affirmed A on Aomori Bank; Revised outlook to Negative; Removed CM (Negative) and affirmed BBB-/Stable on Towa Bank

Nov. 14, 2008: Assigned J-1 to healthcare fees receivable ABL08-11 (A Hospital); Assigned J-1 to healthcare fees receivable ABL08-11 (Kyowakai); Affirmed A+/Stable on sr.debts of Yokogawa Electric; Placed rating on Aozora Bank under Credit Monitor Negative; Affirmed A-/Stable and J-1 on Tsubakimoto Chain; Assigned AAA to bonds of Chugoku Electric Power; Assigned AA+ to bonds of Japan Student Services Organization

Nov. 13, 2008: Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 08-11; Assigned AA to bonds of Urban Renaissance Agency; Affirmed A-/Stable on senior debts of Hokuto

Nov. 12, 2008: Affirmed BBB+/Stable and J-2 on Showa Sangyo; Affirmed A-/Stable and J-1 on Nippon Flour Mills; Affirmed A-/Stable on sr.debts of Nippon Flour Mills; Assigned AA+ to bonds of Osaka (City of); Affirmed AA-/Stable on Sumitomo Mitsui Finance and Leasing; Affirmed A/Stable and J-1 on sr.debts and CP of Takara Holdings

Nov. 11, 2008: Assigned J-1 to healthcare fees receivable ABL08-11 (B Hospital); Affirmed A+/Stable and J-1 on sr.debts and CP of JFE Shoji Trade; Affirmed BBB/Stable on senior debts of Toyo Logistics; Affirmed AA/Stable and J-1+ on Mitsubishi Logistics; Affirmed A+/Stable on sr.debts of JFE Shoji Holdings; Placed ratings on Mitsubishi Rayon under Credit Monitor Negative

Nov. 10, 2008: Assigned J-1 to Hayakawa Rubber Bills Receivable ABL08-11; Affirmed A+/Stable on senior debts of Hekikai Shinkin Bank; Affirmed J-1+ on CP of Tokyo Electric Power Company

Nov. 07, 2008: Assigned J-1 to Nohara Bills Receivable ABL08-11; Affirmed A/Stable on senior debts of Kyowa Exeo; Affirmed A-/Stable on senior debts of Commuture; Affirmed A-/Stable on sr.debts of Daimei Telecom Engineering; Affirmed A+/Stable and J-1 on Tokyu Corporation; JCR Affirmed BBB/Stable on senior debts of Tobu Railway
JCR Affirmed BB+ on TR Preferred Capital; Affirmed BBBp/Stable on senior debts of Nippon Denwa Shisetsu; Affirmed A-/Stable on Keisei Electric Railway; Affirmed AA/Stable and J-1+ on Keio Corporation; Affirmed AA-/Stable and J-1+ on Odakyu Electric Railway; Affirmed A+/Stable and J-1 on Keihin Electric Express Railway; Affirmed A rating on Okazaki Shinkin Bank; Revised outlook to Stable; Affirmed A-/Stable on senior debts of Amagasaki Shinkin Bank; Affirmed A-/Stable on senior debts of Maruzen Showa Unyu; Upgraded rating on Jowa Holdings to BBB+; Downgraded Bank of Ikeda to #BBB+: Continues CM with Developing; Downgrades GMAC to #B-/Negative

Nov. 06, 2008: Affirmed A+/Stable and J-1 on Mitsubishi Plastics; Affirmed A+/Stable and J-1 on Mitsubishi Chemical; Affirmed J-2 on CP of Sumitomo Light Metal Industries; Affirmed A+p/Stable on senior debts of Mitsubishi Tanabe Pharma

Nov. 05, 2008: Affirmed A-/Stable on senior debts of Taiho Kogyo; Placed ratings on Daikyo Inc. under Credit Monitor Negative

Nov. 04, 2008: Affirmed BBB+/Stable on senior debts of Yamazen; Affirmed AA- on EMTN of Mitsubishi UFJ Lease & Finance; Affirmed A/Stable on senior debts of Noritake

Oct. 31, 2008: Assigned J-1+ to Teral Kyokuto Bills Receivable ABL08-10; Assigned J-1 to Molten Bills Receivable ABL08-10; Assigned J-1 to Toda Kogyo Bills Receivable ABL08-10; Affirmed AAA/Stable on Tokio Marine Financial Solutions; Downgraded senior debts of Sendai Bank to BBB/Stable; Downgraded sr.debts of Nishimatsu Construction to A-p/Stable; Downgraded rating on Belluna to BBB/Negative from BBB+/Stable; Affirmed J-1 on CP of UC Card

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