News Release

May. 23, 2024

JCR Assigned AA- Rating to Bonds of KKR Group Finance Co. XI LLC

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 24-05

JCR Assigned AA Rating to Libra A Limited Series C082

JCR Assigned Green 1 to 106th corporate Bonds to be Issued by Central Nippon Expressway

JCR Provided a Second Party Opinion on Sustainability Linked Loan Framework of JTB

May. 22, 2024

JCR Assigned AA-/Stable Long-term Issuer Rating to Nitori HD

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Sankyo Tateyama

JCR Affirmed AA/Stable Long-term Issuer Rating on Hachijuni Bank and NAGANOBANK

JCR Assigned AAA Rating to Bonds of Japan Bank for International Cooperation

JCR Assigned AAA Rating to Bonds of Japan Student Services Organization

JCR Assigned AA Rating to Bonds of GLP J-REIT

JCR Assigned Preliminary A+ Rating to Shelf Registration of FUJI ELECTRIC

[ Asset Securitization Products ] JCR Assigned Preliminary AAA and AA- to REIT2024-001 Beneficial Interest

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 24-05

JCR Assigned A Rating to Cypher Limited Series 10045

JCR Assigned A- Rating to Sylph Limited Series 10253

May. 21, 2024

JCR Affirmed A Long-term Issuer Rating on Samty Residential Investment Corporation; Revised Outlook to Positive

JCR Affirmed A/Stable and J-1 on Tokyo Tatemono

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

JCR Affirmed AA-/Stable Long-term Issuer Rating on DL Life Partner REIT

JCR Assigned AA- Rating to Bonds of SoftBank

JCR Assigned AA- to SPIRE SA Series 2024-201

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Aso Highland Development Company

May. 20, 2024

JCR Affirmed AA/Stable and J-1+ on Kyoei Fire and Marine Insurance

JCR Affirmed A-/Stable and J-1 on Kyoto Shinkin Bank

JCR Assigned Preliminary A+ Rating to Shelf Registration of SCSK

May. 17, 2024

Nippon Life Insurance Invests in a US Life Insurer—No Immediate Impact on Rating

JCR Affirmed AAAp/Stable Long-term Issuer Rating on Shin-Etsu Chemical

JCR Affirmed AA+/Stable Long-term Issuer Rating on NARITA INTERNATIONAL AIRPORT

JCR Affirmed AA-/Stable (FC/LC) on Chile

JCR Assigned AA Rating to Bonds of Kansai Electric Power

JCR Assigned A+ Rating to Bonds of Mitsui O.S.K. Lines

JCR Assigned A Rating to Bonds of Japan Airlines

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

JCR Assigned Preliminary AA Rating to Shelf Registration of ASAHI KASEI

JCR Assigned A to SPIRE SA Series 2024-228

JCR Assigned AA- to Ganymede Limited Series 2024-42

May. 16, 2024

JCR Assigned AA Rating to Bonds of Chubu Electric Power

JCR Affirmed A+/Stable Long-term Issuer Rating on Hiroshimashi Credit Cooperative

JCR Affirmed A+ on EMTN of Mitsui O.S.K. Lines

JCR Assigned AA to Libra A Limited Series C085-1

May. 15, 2024

JCR Downgraded Long-term Issuer Rating on Sharp to BB-/Negative

JCR Assigned AA- Rating to Bonds of RICOH LEASING

JCR Affirmed AA/Stable (FC) and AA+/Stable (LC) on Korea

JCR Assigned AA- to Sylph Limited Series 60168

JCR Assigned AA- to Sylph Limited Series 60169

May. 14, 2024

Aozora Bank Forms Capital and Business Alliance with Daiwa Securities Group—Easing Downward Pressure on Rating

Sanken Electric Posted Net loss for FY2023 - No Immediate Impact on Rating

May. 13, 2024

erex Announces Issuance of New Shares through Third-party Allotment—Easing Downward Pressure on Rating

JCR Affirmed A+/Stable Long-term Issuer Rating on EXEDY

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

JCR Affirmed AA+/Stable Long-term Issuer Rating on National Mutual Insurance Federation of Agricultural Cooperatives

JCR Affirmed AA+/Stable (FC/LC) on Hong Kong

JCR Affirmed AA+/Stable Long-term Issuer Rating on Nippon Building Fund

JCR Assigned SU1(F) and Blue1(F) to Sustainability Finance Framework of TAISEI

May. 10, 2024

JCR Affirmed A/Stable and J-1 on KAGOME

JCR Affirmed BB Long-term Issuer Rating (FC/LC) on Turkiye; Revised Outlook to Stable

JCR Affirmed AA/Stable Long-term Issuer Rating on Central American Bank for Economic Integration

JCR Assigned AA- to SPIRE SA Series 2024-184

JCR Provided a Second Party Opinion on Sustainability Linked Bond Framework of OKAMURA

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Tashiro Seisakusho

May. 09, 2024

LOGISTEED's Acquisition of ALPS LOGISTICS—Limited Impact on Financial Structure, Focus on Synergy Effect

JCR Assigned Preliminary A+ Rating to Subordinated Bonds and Subordinated Loan of NIPPON STEEL

JCR Affirmed AA-/Stable and J-1+ on Hulic; Assigned Preliminary AA- to Shelf Registration

Results of Review of Structured Finance Products (Excluding Those to Which Credit Ratings Are Assigned) April 2024

JCR Assigned Green 1 (Preliminary Evaluation) to 106th corporate Bonds to be Issued by Central Nippon Expressway

May. 07, 2024

JCR Affirmed A+/Stable Long-term Issuer Rating on Okinawa Financial Group and Bank of Okinawa

JCR Affirmed A+/Stable Long-term Issuer Rating on Bank of The Ryukyus

[ Asset Securitization Products ] JCR Upgraded Oxygen Capital Limited Series 163 to AA-

May. 02, 2024

JCR Affirmed AA/Stable Long-term Issuer Rating on Concordia Financial Group, Bank of Yokohama and Higashi-Nippon Bank

JCR Affirmed AA+/Stable on NEW KANSAI INTERNATIONAL AIRPORT and KANSAI INTERNATIONAL AIRPORT LAND

JCR Assigned Preliminary AA+ Rating to Shelf Registration of DAIKIN INDUSTRIES

JCR Provided a Second Opinion to Positive Impact Finance Provided by THE KYOTO CHUO SHINKIN BANK to Sanyo Metal Industry

May. 01, 2024

SUMITOMO CHEMICAL Announces Revision of FY2023 Financial Forecast, FY2024 Financial Forecast, etc.— Despite Strong Downward Pressure on Ratings, Progress Toward Future Performance Recovery

JCR Assigned Preliminary BBB to Auto Loan Receivables Securitization 202406

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Kikuchi Steel

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Suzuki Kogyo

JCR Provided a Second Opinion to Positive Impact Finance Provided by Hiroshima Bank to MASSTECHNO

Apr. 30, 2024

Jimoto HD Announces Downward Revision of Earnings Forecasts—No Impact on Ratings

JCR Affirmed AA/Stable (FC/LC) on Spain

JCR Affirmed AA/Stable Long-term Issuer Rating on Comforia Residential REIT

JCR Affirmed A+/Stable Long-term Issuer Rating on Japan Hotel REIT Investment Corporation

JCR Assigned Preliminary A- to JPY-denominated Green Loans to AKANE 01 G.K.

JCR Assigned Green 1(F) to Green Finance Framework of Canadian Solar Project AKANE

JCR Reviewed Sustainability Finance Framework by HASEKO Residential Private REIT

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to KINSEIKEN

JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to KOMAZUKI

JCR Provided a Second Opinion to Positive Impact Finance Provided by 33 Bank to Shin-ei Development

JCR Provided a Second Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to Kondo Kogyo

JCR has Provided THE NISHI-NIPPON CITY BANK, with its Second Opinion for the Scheme on "Forestrike", Decarbonization Impact Finance

JCR Withdraws J-1+ Rating on CP of Sumitomo Warehouse

Apr. 26, 2024

JCR Upgraded Rating on NIPPON SANSO HD to AA-/Stable and J-1+

JCR Affirmed AA-/Stable Long-term Issuer Rating on Kenedix

JCR Affirmed AA+/Stable Long-term Issuer Rating on BRIDGESTONE

JCR Affirmed A-/Stable Long-term Issuer Rating on SHIMIZU BANK

JCR Affirmed AA-/Stable and J-1+ on JAPAN SECURITIES FINANCE

JCR Affirmed AA-/Stable and J-1+ on JSF Trust and Banking

JCR Assigned Preliminary AA- Rating to Shelf Registration of Kyushu Electric Power

JCR Upgraded Azusa Limited Series 504 to BBB+

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 24-04 (D Hospital)