News Release

Apr. 20, 2007

Assigned J-1+ to ABCP of Serpent Funding

Assigned preliminary AA- to Series 4 Class A Synthetic CDO

Assigned A+ to subordinated bonds of Mizuho Bank

Upgraded sr.debts of Kansai International Airport to AA/Stable

Affirmed BBB-/Stable on sr.debts of Kyoritsu Maintenance

Affirmed A+/Stable on sr.debts of Nissan Financial Services

Assigned AAA to bonds of Development Bank of Japan

Affirmed A-/Stable and A- on sr.debts and bonds of T.Hasegawa

Apr. 19, 2007

Assigned J-1 to healthcare fees ABL07-04 (Heiwa & Konbu Onsen)

Apr. 17, 2007

Assigned J-1 to healthcare fees receivable ABL07-04 (A Hospital)

JCR's Rating Review and View Points of Electric Power Companies

Apr. 13, 2007

Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 07-04

Assigned J-1 to healthcare fees receivable ABL07-04 (B Hospital)

Apr. 12, 2007

Assigned J-1 to Healthcare Fees Receivable ABL07-04 (Ishii HP)

Assigned J-1 to healthcare fees receivable ABL07-04(Tokachinomori)

Apr. 09, 2007

Assigned J-1 to Nohara Bills Receivable ABL07-04

Mar. 30, 2007

Assigned J-1 to Bills Receivable ABL07-03 (B Corporation in Mie)

Assigned J-1+ to Teral Kyokuto Bills Receivable ABL07-03

Assigned J-1 to Hayakawa Rubber Bills Receivable ABL07-03

Assigned J-1+ to Nippei Toyama Bills Receivable ABL07-03

Assigned J-1+ to JUTEC Bills Receivable ABL07-03

Assigned J-1 to Toda Kogyo Bills Receivable ABL07-03

Assigned J-1 to Molten Bills Receivable ABL07-03

Upgraded Octave Synthetic CDO Series 3 Class B to AAA from AA

Assigned J-1+ to Kimura Bills Receivable Certificates/ABL07-03

Mar. 28, 2007

Assigned J-1 to Aso Shoji Bills Receivable ABL07-03

Assigned J-1 to Kyushu Caterpillar M'bishi Bills ABL07-03

Assigned J-1 to Osaka Steel Tube Bills Receivable ABL07-03

Mar. 26, 2007

Assigned J-1+ to MSNW Trust Certificate Series 07030

Assigned J-1 to SEIBUKIZAI Bills Receivable ABL07-03

Mar. 23, 2007

Assigned J-1 to Bills Receivable ABL07-03 (A Corporation in Aichi)

Assigned J-1 to healthcare fees ABL07-03 (D Hospital)

Assigned J-1 to healthcare fees ABL07-03 (Asahikawa Sanai HP)

Mar. 22, 2007

Assigned J-1 to healthcare fees receivable ABL07-03 (C Hospital)

Assigned J-1 to Fuji Shokai Bills Receivable ABL07-03

Mar. 20, 2007

Assigned J-1 to healthcare fees receivable ABL07-03 (Heiwa & Konbu Onsen)

Mar. 16, 2007

Assigned J-1 to healthcare fees receivable ABL07-03 (A Hospital)

Affirmed AA on bonds of SCB Securitization

Mar. 15, 2007

Assigned J-1 to healthcare fees receivable ABL07-03 (B Hospital)

Assigned preliminary BBB to secured senior loans of WBBL

Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 07-03

Mar. 14, 2007

Assigned J-1 to healthcare fees receivable ABL07-03(Tokachinomori)

Mar. 13, 2007

Assigned J-1 to Healthcare Fees Receivable ABL07-03 (Ishii HP)

Mar. 09, 2007

Assigned J-1 to Nohara Bills Receivable ABL07-03

Mar. 05, 2007

Assigned J-1 to Hayakawa Rubber Bills Receivable ABL07-03

Feb. 28, 2007

Assigned J-1 to Molten Bills Receivable ABL07-02

Assigned J-1+ to Teral Kyokuto Bills Receivable ABL07-02

Assigned J-1 to Toda Kogyo Bills Receivable ABL07-02

Feb. 27, 2007

Assigned J-1 to MoonStar Bills receivable ABL07-02

Feb. 26, 2007

Assigned J-1+ to MSNW Trust Certificate Series 07020

Assigned AAA to securitization of Kyoyu Lease

Assigned J-1 to Osaka Steel Tube Bills Receivable ABL07-02

Feb. 23, 2007

Assigned J-1 to SEIBUKIZAI Bills Receivable ABL07-02

Assigned J-1 to Bills Receivable ABL07-02 (A Corporation in Aichi)

Feb. 22, 2007

Assigned J-1 to healthcare fees ABL07-02 (Asahikawa Sanai HP)

Assigned J-1 to healthcare fees receivable ABL07-02 (C Hospital)

Assigned J-1 to Fuji Shokai Bills Receivable ABL07-02

Feb. 19, 2007

Assigned J-1 to healthcare fees receivable ABL07-02 (A Hospital)

Assigned J-1 to healthcare fees ABL07-02 (Heiwa & Konbu Onsen)

Feb. 16, 2007

Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 07-02

Assigned preliminary AAA to securitization of Kyoyu Lease

Feb. 15, 2007

Assigned J-1 to healthcare fees receivable ABL07-02 (B Hospital)

Assigned J-1 to healthcare fees receivable ABL07-02(Tokachinomori)

Feb. 14, 2007

Assigned AAA to San-in Shinpan Installment Sales Receivable Trust

Feb. 13, 2007

Assigned J-1 to Healthcare Fees Receivable ABL07-02 (Ishii HP)

Feb. 09, 2007

Assigned J-1 to Nohara Bills Receivable ABL07-02

Feb. 05, 2007

Assigned J-1 rating to Hayakawa Rubber Bills Receivable ABL07-02

Jan. 31, 2007

Assigned J-1 to Toda Kogyo Bills Receivable ABL07-01

Assigned J-1 to Molten Bills Receivable ABL07-01

Jan. 30, 2007

Assigned J-1+ to Teral Kyokuto Bills Receivable ABL07-01

Assigned J-1+ to JUTEC Bills Receivable ABL07-01

Jan. 29, 2007

Assigned J-1+ to Chudai Jitugyo Bills Receivable ABL07-01

Assigned J-1 to Osaka Steel Tube Bills Receivable ABL07-01

Jan. 26, 2007

Assigned J-1 to SEIBUKIZAI Bills Receivable ABL07-01

Assigned J-1 to Fuji Shokai Bills Receivable ABL07-01

Jan. 25, 2007

Assigned J-1+ to MSNW Trust Certificate Series 07010

Jan. 24, 2007

Assigned J-1 to Bills Receivable ABL07-01 (A Corporation in Aichi)

Jan. 23, 2007

Assigned J-1 to healthcare fees receivable ABL07-01 (C Hospital)

Jan. 22, 2007

Assigned J-1 to Hayakawa Rubber Bills Receivable ABL07-01

Assigned J-1 to healthcare fees ABL07-01 (Asahikawa Sanai HP)

Jan. 19, 2007

Assigned J-1 to healthcare fees ABL07-01 (Heiwa & Konbu Onsen)

Jan. 17, 2007

Assigned J-1 to healthcare fees receivable ABL07-01 (A Hospital)

Jan. 15, 2007

Assigned J-1 to healthcare fees receivable ABL07-01(Tokachinomori)

Assigned J-1+ to Takeda General Hospital Trust Certificates 07-01

Assigned J-1 to healthcare fees receivable ABL07-01 (B Hospital)

Jan. 12, 2007

Assigned J-1 to Healthcare Fees Receivable ABL07-01 (Ishii HP)

Jan. 09, 2007

Assigned J-1 to Nohara Bills Receivable ABL06-12

Jan. 04, 2007

Assigned J-1 to Molten Bills Receivable ABL06-12

Dec. 28, 2006

Assigned J-1+ to Teral Kyokuto Bills Receivable ABL06-12

Assigned J-1 to SEIBUKIZAI Bills Receivable ABL06-12

Assigned J-1 to Toda Kogyo Bills Receivable ABL06-12

Assigned J-1+ to JUTEC Bills Receivable ABL06-12

Assigned J-1+ to Kimura Bills Receivable Certificates/ABL06-12

Assigned J-1 to MoonStar Bills Receivable ABL06-12

Dec. 27, 2006

Assigned A/BBB to bonds/loans of Totate Higashi Senda Tokutei Mokuteki Kaisha

Dec. 26, 2006

Assigned J-1 to Fuji Shokai Bills Receivable ABL06-12

Dec. 25, 2006

Assigned J-1+ to MSNW Trust Certificate Series 06120

Dec. 22, 2006

Assigned J-1 to healthcare fees ABL06-12 (Asahikawa Sanai HP)

Assigned J-1 to Bills Receivable ABL06-12 (A Corporation in Aichi)

Assigned J-1 to healthcare fees receivable ABL06-12 (C Hospital)