News Release

Feb. 20, 2009: Assigns AAA Rating to Export Development Canada's JPY Floating Rate Bonds; Assigned AA- rating to sub.bonds of Bank of Tokyo-Mitsubishi UFJ; Downgraded Hokkoku Bank rating to A+/Stable and A; Assigned preliminary A rating to shelf of Hiroshima Gas; Assigned AA to bonds of Urban Renaissance Agency

Feb. 19, 2009: Affirmed A+ on bonds of Dai-ichi Life Dai2Kai TMK; Affirmed BBB/Stable on senior debts of Saikyo Bank

Feb. 18, 2009: Assigned J-1 to dispensing fees ABL09-02 (sun-kur Corporation); Assigned J-1 to healthcare fees ABL09-02 (E Hospital); Assigned J-1 to Kurashiki Medical Center Trust Certificates 09-02; Assigned J-1 to healthcare fees ABL09-02 (F Hospital); Affirmed BBB/Stable on San Holdings; Withdrawn D rating on sr.debts and bonds of Zephyr; Assigned AAA to bonds of Tokyo Electric Power Company; Assigned AA+ to bonds of Osaka (City of)

Feb. 17, 2009: Assigned J-1 to healthcare fees receivable ABL09-02 (A Hospital); Assigned J-1 to healthcare fees receivable ABL09-02 (Shuyukai); Affirmed A+ on bonds of Dai-ichi Life Dai2Kai TMK; Affirmed AA/Stable and AA on sr.debts and bonds of Urban Renaissance Agency; Affirmed AA/Stable and AA- on Bank of Yokohama; Assigned A+ to subordinated bonds of Sumitomo Mitsui Banking

Feb. 16, 2009: Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 09-02; Assigned J-1 to healthcare fees receivable ABL09-02 (Kyowakai); Affirmed AA on Sumitomo Electric Industries; Revised outlook to Negative; Affirmed AA on Sumitomo Wiring Systems; Revised outlook to Negative; Assigned BBB to Preferred Sec.of TC Preferred Capital; Affirmed A/Stable and J-1 on senior debts and CP of JGC

Feb. 13, 2009: Withdraws A/Positive rating on Konami Sports & Life; Affirmed A/Positive and A on Konami; outlook Positive; Assigned J-1+ to domestic CP program of Japan Finance Corporation; Affirmed A rating on Tokyo Star Bank; Revised outlook to Negative; Assigned AA- to sub.bonds of Mitsubishi UFJ Trust & Banking; Affirmed A and J-1 rating on Sumitomo Heavy Industries; Revised outlook to Stable; Assigned AAA to bonds of Aichi Prefecture; Revised rating outlook for Fuji Electric Holdings to Negative; Affirmed A/Stable on senior debts of Wakkanai Shinkin Bank; Downgraded ES-CON Japan to #BB-/Negative, #B+/Negative and NJ; Credit Monitor

Feb. 12, 2009: Assigned J-1 to healthcare fees receivable ABL09-02 (B Hospital); Affirmed BBB-/Stable on Mitsubishi Paper Mills; Affirmed A- rating on Okamura Corporation; Revised outlook to Negative; Assigned preliminary A+ to shelf reg. of Nisshin Steel; JCR's Rating Review of Securities companies; Downgraded Aozora Bank rating to BBB+; Outlook remains Negative

Feb. 10, 2009: Downgraded rating on bonds of SCB Securitization to AA-; Affirmed A/Stable on sr.debts of Japan Net Bank; Placed CP rating on Osaka Securities Finance under Credit Monitor Negative

Feb. 09, 2009: Assigned J-1 to Nohara Bills Receivable ABL09-02; Assigned preliminary A+ rating to sub.bond of Mizuho Corporate Bank; Affirmed AAA/Stable on senior debts of Japan Broadcasting Corporation; Downgraded Shinkin Guarantee Fund to A+; Outlook Negative; Downgraded Shinkin Central Bank to AA+ ; Outlook Negative; Assigned preliminary AA- rating to sub.bonds of Bank of Tokyo-Mitsubishi UFJ

Feb. 06, 2009: Assigned preliminary J-1 to A&D Bills Receivable Trust Certificates; Withdraws BBB/Stable rating on Mikuni Corporation; Affirmed A-/Stable and J-1 on Toyobo; Affirmed AA-/Stable and J-1+ on Asahi Breweries; Affirmed AA/Stable on senior debts of 77 Bank; Affirmed A+ and J-1 on Aeon Credit Service; Revised outlook to Stable; Affirmed A-/Stable on senior debts of Nagoya Railroad; Upgraded Acom rating to A; Removed Credit Monitor; Assigned AA+ to bonds of Osaka (City of); Assigned AA to bonds of Kansai International Airport; Affirmed A+ on Kenedix Realty Investment; Revised outlook to Negative

Feb. 05, 2009: Affirmed AA+/Stable on sr.debts of Aoyama Gakuin; Placed rating on Towa Real Estate Development under CM with Positive; Downgraded ratings on Japan General Estate to D

Feb. 04, 2009: Assigned A+ to subordinated bonds of Sumitomo Mitsui Banking; Affirmed Ap on Toyo Ink Mfg.; Revised outlook to Negative; Affirmed AA-/Stable and AA- on Tokai Rubber; Assigned AA+ to bonds of Osaka (City of)

Feb. 03, 2009: Affirmed A+ on bonds of Dai-ichi Life Dai2Kai TMK; Affirmed A+/Stable on sr.debts of Sumitomo Warehouse; Affirmed A/Stable and J-1 on Aeon Kyushu; Affirmed BBB+/Stable and BBB+ on Shibusawa Warehouse; Placed Shinki under Credit Monitor Positive (#BBB-/Positive); JCR Downgraded Shinsei Bank to A-/Negative and Affirmed J-1
JCR Downgraded Showa Leasing to BBB+/Negative and J-2; Downgraded Japan General Estate to #BB-/Negative; Credit Monitor

Feb. 02, 2009: Affirmed BBB+/Stable and J-2 on sr.debts and CP of Sapporo Holdings

Jan. 30, 2009: Assigned J-1 to Toyoshima Bills Receivable ABL09-01; Assigned J-1+ to Teral Bills Receivable ABL09-01; Assigned J-1 to Molten Bills Receivable ABL09-01; Assigned J-1 to Toda Kogyo Bills Receivable ABL09-01; Withdraws BB+/Negative rating on Touei Housing; Affirmed BBB+/Stable on senior debts of Roland; Affirmed A/Stable and J-1 on Taiyo Nippon Sanso; Withdraws NJ rating on domestic CP program of Pacific Holdings; Affirmed A/Stable on senior debts of Air Water; Assigned preliminary AA-/A+/A to shelf of Mizuho Corporate Bank

Jan. 29, 2009: Assigned J-1+ to Chudai Jitugyo Bills Receivable ABL09-01; Assigned J-1 to Aso Shoji Bills Receivable ABL09-01; Assigned J-1 to SEIBUKIZAI Bills Receivable ABL09-01; Assigned J-1 to Nippon Tungsten Bills Receivable ABL09-01; Affirmed BBB/Stable on senior debts of Harima Chemicals; Affirmed A+/Stable on senior debts of Daicel Chemical Industries

Jan. 28, 2009: Assigned J-1 to Osaka Steel Tube Bills Receivable ABL09-01; Affirmed A+/Stable on Kyoritsu Women's Educational Institution; Affirmed A-/Stable on senior debts of J-OIL MILLS; Assigned AA+ to bonds of Japan Student Services

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