News Release

Jun. 10, 2008: Assigned AA- to bonds of Orix; Assigned A rating to bonds of Kureha; Assigned pre. BBB+, BBB+ to shelf registration & bonds of Shibusawa Warehouse

Jun. 09, 2008: Downgraded Goodwill to #BBB-/Negative with CM continued; Affirmed A-/Stable and A- on sr.debts and bonds of SSP; Assigned BBB/Stable to sr.debts of Clarke Gakuen

Jun. 06, 2008: Assigned J-1+ to JUTEC Bills Receivable ABL08-06; Assigned A- ratings to bonds of Nippon Mining Holdings; Assigned AAA to bonds of Kyushu Electric Power Company; Affirmed AA-/Stable on sr.debts of Futaba Industrial; Withdrawn BB/Negative for NIS Group and Nissin Servicer; Withdrawn BB/Negative for NIS Group and Nissin Servicer

Jun. 05, 2008: Assigned A- to bonds of Mazda Motor; Assigned AA to bonds of Mitsubishi Logistics; Assigned AA+ to bonds of Osaka (City of); Assigned AAA to bonds of Japan Finance Corporation for Small and Medium Enterprise; Assigned AAA to bonds of Development Bank of Japan; Assigned AAA to bonds of Kansai Electric Power Company

Jun. 04, 2008: Assigned A to bonds of Denki Kagaku Kogyo; Assigned A-/Stable and J-1 to sr.debts and CP of Idemitsu Credit; Assigned AAA to bonds of NTT DoCoMo; Assigned AAA to bonds of Tokyo Electric Power Company; Assigned AA+ to bonds of Osaka (City of); Withdrawn BBB rating on Iida Home Max; Placed Urban Corporation under CM; Downgraded rating to #BB+/Negative

Jun. 02, 2008: Withdrew Bear Stearns' #AA-/Developing rating; Affirmed A-/Stable on sr.debts of Hiroshima Shinkin Bank; Affirmed A-/Stable on sr.debts of Saitamaken Shinkin Bank; Downgraded Issuer: Goodwill Group to #BB-/Negative; Continues CM

May. 30, 2008: Assigned J-1+ to Teral Kyokuto Bills Receivable ABL08-05; Assigned J-1 to Toda Kogyo Bills Receivable ABL08-05; Assigned J-1 to Molten Bills Receivable ABL08-05; Affirmed BBB+/Stable on sr.debts of Chubu Shiryo; Affirmed A/Stable on sr.debts of Nosan Corporation; Downgraded ratings on Suruga to #CCC/Negative; Downgraded rating on Zephyr to #BB-, #B+ and NJ; Assigned BBB+ to bonds of Nankai Electric Railway; Affirmed BBB-/Stable on sr.debts of Nichiwa Sangyo

May. 29, 2008: Assigned J-1 to Aso Shoji Bills Receivable ABL08-05; Assigned J-1 to Toyoshima Bills Receivable ABL08-05; Assigned J-1 to Nippon Tungsten Bills Receivable ABL08-05; Assigned AA to bonds of Urban Renaissance Agency; Assigned BBB+ to bonds of Tonami Transportation; Assigned A+ to bonds of Tokyu; Upgraded rating on SUMCO to A+/Stable from A/Positive; Downgraded rating on Suruga to #BB/Negative and #BB-/Negative; Affirmed BBB- on Kohnan Shoji; Revised outlook to Positive

May. 28, 2008: Assigned J-1 to Osaka Steel Tube Bills Receivable ABL08-05; Assigned J-1 to healthcare fees receivable ABL08-05 (Shuyukai); Affirmed AA/Stable and AA on Kansai International Airport; Affirmed A+/Stable on Nissan Financial Services; Assigned AA- to bonds of Tokai Rubber Industries; Affirmed A+/Stable and J-1+ on JCB

May. 27, 2008: Assigned J-1 to SEIBUKIZAI Bills Receivable ABL08-05; Assigned J-1 to Bills Receivable ABL08-05 (B Corporation in Mie); Affirmed A+/Stable on sr.debts of Aichi Bank; Assigned A+ to bonds of Nisshin Steel; Assigned BBB to bonds of Sojitz; Assigned A- to bonds of All Nippon Airways; Affirmed A+/Stable on sr.debts of Bank of Nagoya; Assigned A- to bonds of Toyobo

May. 26, 2008: Assigned J-1 to Bills Receivable ABL08-05 (A Corporation in Aichi); Assigned J-1+ to MSNW Trust Certificate Series 08050; Assigned J-1+ to Chudai Jitugyo Bills Receivable ABL08-05; Assigned J-1 to Nakagawa Seitaikako Bills Receivable ABL08-05; Affirmed BBB/Stable on sr.debts of Rasa Industries; Assigned preliminary AA to shelf registration of Asahi Kasei; Affirmed BBB/Stable on sr.debts of Sanyo Electric Railway; Affirmed BBB/Stable on sr.debts of Kanto Denka Kogyo

May. 23, 2008: Assigned J-1 to Fuji Shokai Bills Receivable ABL08-05; Assigned preliminary A- to shelf registration of Nagoya Railroad; Affirmed BBB/Stable and J-2 on Toshiba Housing Loan Service; Affirmed BBB+/Stable and J-2 on Toshiba Finance; Placed rating on Cosmo Securities under CM with Positive; Assigned A to bonds of Marubeni; Assigned AA- to bonds of Mitsubishi UFJ Lease & Finance

May. 22, 2008: Assigned J-1 to healthcare fees ABL08-05 (Asahikawa Sanai HP); Assigned BBB/Stable to senior debts of Fukuho Bank; Affirmed A/Stable and A- on Hokuetsu Bank; Affirmed A-/Stable on sr.debts of Takasago International; Assigned AA- to bonds of Mitsui Fudosan; JCR Removed CM; Affirmed AA- and J-1+ on Mizuho Securities
JCR Removed CM; Affirmed AA-, A+ and J-1+ on Shinko Securities; Assigned AAA to bonds of Electric Power Development

May. 21, 2008: Affirmed BBB/Stable and J-2 on Daiei Real Estate & Development; Assigned A to bonds of Yokohama Rubber

May. 20, 2008: Assigned J-1 to healthcare fees receivable ABL08-05 (C Hospital); JCR Affirmed A-/Stable and J-1 on LT/ST sr.debts of Ueda Yagi Tanshi
JCR Affirmed A-/Stable and J-1 on LT/ST sr.debts of Central Tanshi
JCR Affirmed A-/Stable and J-1 on LT/ST sr.debts of Tokyo Tanshi; Affirmed BBB+/Stable on sr.debts of Central Tanshi Online Trading; Affirmed A+/Stable on senior debts of Shiga Bank; Assigned AAA to bonds of National Life Finance; Affirmed A-/Stable and A- on sr.debts and bonds of T.Hasegawa; Assigned AAA to bonds of Tokyo Electric Power Company; Affirmed A-/Stable and A- on Heiwa Real Estate; Assigned AAA to bonds of Japan Bank for International

May. 19, 2008: Assigned J-1 to Kurashiki Medical Center Trust Certificates 08-05; Affirmed A-/Stable and BBB+ on Bank of The Ryukyus; Affirmed AA+/Stable and J-1+ on Toa Reinsurance; Affirmed AA+/Stable and AA+ on Japan Water Agency; Upgraded rating on Nankai Electric Railway to BBB+/Stable

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