News Release

Jul. 24, 2009

Affirmed BBB-/Stable on Hitachi Zosen

Downgraded rating on Gifu Shinkin Bank to BBB+; Outlook Stable

Affirms BBB/BBB+ ratings on The Republic of Bulgaria with negative outlook

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

Assigned A+ to bonds of Tokyu Corporation

Assigned A+ rating to bonds of THK

Withdraws BB rating on senior debts of Mitsubishi Motors

Affirms A+/AA- (FC/LC) Ratings on Korea Electric Power

Assigned preliminary AA- rating to sub.bonds of Bank of Tokyo-Mitsubishi UFJ

Jul. 23, 2009

Assigned J-1 to Fuji Shokai Bills Receivable ABL09-07

Affirmed BBB+/Stable on Arisawa Mfg.

Affirmed BBB-/Stable on Okaya Electric Industries

Affirmed A-/Stable on Kato Sangyo

Jul. 22, 2009

Assigned J-1 to Medical Fees Receivable ABL09-07 (Asahikawa Sanai HP)

Affirmed A+/Stable on Keiyo Bank

Affirmed J-2 on CP of Asax

Affirmed A+/Stable on Nidec

Jul. 21, 2009

Assigned J-1 to Medical Fees Receivable ABL09-07 (G Hospital)

Assigned J-1 to Medical Fees Receivable ABL09-07 (C Hospital)

Assigned AA- to bonds of Mizuho Corporate Bank

Upgraded long-term rating for Suntory Holdings to AA; Outlook Stable

JCR Upgraded rating on EMTN of Suntory Holdings to AA
JCR Upgraded rating on EMTN of SUNTORY EUROPE to AA
JCR Upgraded rating on EMTN of SUNTORY CAPITAL to AA

Withdraws BBB and J-2 rating on Shinki

Affirmed A and A- on Eighteenth Bank; Revised outlook to Negative

Jul. 17, 2009

Assigned J-1 to Kurashiki Medical Center Beneficial Int. 09-07

Assigned AA rating to bonds of JFE Holdings

Assigned AA- rating to bonds of Sumitomo Metal Industries

Jul. 16, 2009

Assigned J-1 to Medical Fees Receivable ABL09-07 (H Hospital)

Assigned J-1 to Medical Fees Receivable ABL09-07 (I Hospital)

Assigned J-1 to dispensing fees ABL09-07 (sun-kur Corporation)

Assigned J-1 to Medical Fees Receivable ABL09-07 (Shuyukai)

Assigned J-1 to Medical Fees Receivable ABL09-07 (F Hospital)

Assigned J-1 to Medical Fees Receivable ABL09-07 (Kyowakai)

Assigned A rating to shelf and bonds of Sumitomo Realty & Development

Assigned AAA to bonds of Aichi Prefecture

Jul. 15, 2009

Assigned AA- to a Loan based on Commitment Line under PF Structure

Assigned J-1 to Medical Fees Receivable ABL09-06 (A Hospital)

Assigned J-1 to Medical Fees Receivable ABL09-07 (E Hospital)

Assigned preliminary J-1 to A&D Bills Receivable Beneficial Int. 09-07

Withdraws J-1+ rating on ABCP of Rabbit Funding

Assigned J-1+ to Takeda Gen. Hospital Beneficial Interest 09-07

Assigned J-1 to Medical Fees Receivable ABL09-07 (A Hospital)

Assigned AAA to bonds of Aichi Prefecture

Affirmed BBB rating on Nippon Yakin Kogyo; Outlook remains Negative

Affirmed Ap on Fujikura; Revised outlook to Negative

Assigned BBB rating to bonds of Softbank

Assigned AAA to bonds of Kansai Electric Power

Affirms AAA ratings on Australia: Outlook Stable

Jul. 14, 2009

Assigned AA- to bonds of Mitsui Fudosan

Assigned AA- and A+ to bonds and subordinated bonds of Sumitomo Mitsui Banking

Assigned A to bonds of Mitsui-Soko

Jul. 13, 2009

Assigned J-1 to Medical Fees Receivable ABL09-07 (B Hospital)

Jul. 10, 2009

Assigned J-1 to Hayakawa Rubber Bills Receivable ABL09-07

Assigned AA- to bonds of Odakyu Electric Railway

Assigned A rating to bonds of Marubeni

Affirmed BBB+ rating and Stable outlook on Accordia Golf

Assigned AA- rating to subordinated bonds of Bank of Yokohama

Affirmed A/Stable and A- rating for Nishi-Nippon City Bank

Downgraded rating on Paris Miki Holdings to BBB+; Outlook Stable

Affirmed BBB+/Stable on Pacific Golf Group International

Jul. 09, 2009

Assigned preliminary AA rating to bond of Foundation fund of Nippon Life Insurance

Assigned J-1 to Nohara Bills Receivable ABL09-07

Affirmed BBB+/Stable and J-2 on Nankai Electric Railway

Assigned preliminary BBB+ rating to shelf of Heiwa Real Estate

Assigned preliminary A rating to shelf registration of Marubeni

Assigned AA ratings to bonds of Bank of Tokyo-Mitsubishi UFJ

Assigned AA- to bonds of Asahi Breweries

Jul. 08, 2009

Affirmed BBB and BBB- ratings on Bank of Kochi; Revised outlook to Negative

Assigned AAA to bonds of Tokyo Electric Power Company

Assigned AAA to bonds of Chugoku Electric Power

Jul. 07, 2009

Affirmed BBB on Royal Holdings; Revised Outlook to Negative

Assigned preliminary AA rating to shelf reg. of JFE Holdings

Upgrades Ratings on Republic of Indonesia to BB+/BBB- (FC/LC)

Jul. 06, 2009

Assigned J-1 to Kurashiki Medical Center Trust Certificates 08-07

Downgraded ratings on Fuji Electric Holdings to BBB+ and J-2

Withdraws J-2 rating on domestic CP program of Fukuda Corporation

Assigned preliminary AAA to shelf registration of Electric Power Development

Jul. 03, 2009

JCR Withdraws J-3 on CP program and BB- on MTN Program of Mitsubishi Motors
JCR Withdraws BB- on MTN program of Mitsubishi Motors Credit of America
JCR Withdraws BB- on MTN program of MMC International Finance Netherlands

Downgraded rating on Taiheiyo Cement to BBBp from BBB+p

Assigned preliminary A- rating to shelf of Sumitomo Osaka Cement

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

Assigns AA+ Ratings to Electricite de France's Inaugural Samurai

Affirmed BBB-/Positive on sr.debts of Keiyo

Affirmed J-1 on CP program of NBL

Placed rating on Saison Auto & Fire Insurance on Credit Monitor Positive

Affirmed BBB on DC; Revised outlook to Negative from Stable

Assigned preliminary A to shelf registration of Acom

Jul. 01, 2009

Affirms AAAp/Stable Rating on European Reconstruction and Development Bank

NikkoCiti Trust A- rating Remain on Credit Monitor Positive

Jun. 30, 2009

Assigned J-1 to Molten Bills Receivable ABL09-06

Assigned J-1 to Toda Kogyo Bills Receivable ABL09-06

Assigned J-1+ to Teral Bills Receivable ABL09-06

Affirmed J-1 on domestic CP program of Taiyo Nippon Sanso

Affirmed A+p/Stable rating on Showa Shell Sekiyu

Assigned preliminary AA- to shelf of Sumitomo Metal Industries

Removed rating for NEC Tokin from Credit Monitor; Affirmed BBB+

Jun. 29, 2009

Assigned J-1 to Aso Shoji Bills Receivable ABL09-06

Assigned J-1 to A&D Bills Receivable Beneficial Int. 09-06

Assigned J-1 to Nippon Tungsten Bills Receivable ABL09-06

Assigned J-1 to Seibukizai Bills Receivable ABL09-06