News Release

Dec. 26, 2008: Assigned J-1 to Aso Shoji Bills Receivable ABL08-12; Assigned AAA to San-in Shinpan Installment Sales Receivable ABL; Assigned J-1+ to Teral Bills Receivable ABL08-12; Assigned J-1+ to Chudai Jitugyo Bills Receivable ABL08-12; Assigned J-1 to Bills Receivable ABL08-12 (B Corporation in Mie); Affirmed BBB/Stable on senior debts of Kanto Tsukuba Bank; Downgraded Takara Leben's rating to BB+ and J-3; Affirmed A/Negative and A- on Shonai Bank; Downgraded Nissan Diesel Motor's long-term rating to A-

Dec. 25, 2008: Assigned J-1 to A&D Bills Receivable Trust Certificates; Assigned J-1 to Bills Receivable ABL08-12 (A Corporation in Aichi); Assigned J-1 to Kimura Bills Receivable ABL08-12; Assigned J-1 to Nippon Tungsten Bills Receivable ABL08-12; Assigned J-1+ to MSNW Trust Certificate Series 08120; Downgraded Japan General Estate rating to BB+/Negative and J-3; Affirmed AA/Stable on senior debts of Oriental Land; Assigned AA/Stable to Daiwa House; Withdrawn AAp

Dec. 24, 2008: Assigned J-1 to Osaka Steel Tube Bills Receivable ABL08-12; Affirmed BBB on Shinnihon Corporation ; Revised outlook to Negative

Dec. 22, 2008: Assigned J-1 to healthcare fees ABL08-12 (D Hospital); Assigned J-1 to healthcare fees ABL08-12 (Asahikawa Sanai HP); Assigned J-1 to Fuji Shokai Bills Receivable ABL08-12; Withdraws AA/Stable rating on SMRJDecember 22, 2008

Dec. 19, 2008: Assigned J-1 to healthcare fees receivable ABL08-12 (C Hospital); Affirmed A- on Daisan Bank; Revised outlook to Negative; Affirmed A+p/Stable on senior debts of Kansai Paint; Affirmed AA on Mitsubishi UFJ Securities; Assigned preliminary AAA to bonds of Aichi Prefecture; Upgraded rating on OMC Card to A-/Stable from BBB/Positive; Affirmed A/Stable and J-1 on sr.debts and CP of Minebea; Affirmed A-/Stable and J-1 on Central Finance; Affirmed A-/Stable and J-1 on sr.debts and CP of Quoq; Placed Sanyo Electric rating under Credit Monitor Positive; Placed Tohcello rating under Credit Monitor Positive

Dec. 18, 2008: Assigned J-1 to dispensing fees ABL08-12 (sun-kur Corporation); Assigned J-1+ to JUTEC Bills Receivable ABL08-12; Assigned J-1 to Nishiken Bills Receivable ABL08-12; Assigned AA- to subordinated bonds of Bank of Yokohama

Dec. 17, 2008: Assigned J-1 to healthcare fees ABL08-12 (F Hospital); Assigned J-1 to healthcare fees receivable ABL08-12 (A Hospital); Assigned J-1 to Kurashiki Medical Center Trust Certificates 08-12; Assigned J-1 to healthcare fees ABL08-12 (E Hospital); Downgrade Aozora Bank rating to A-; Removed it from Credit Monitor; Affirmed BBB- for Saison Automobile & Fire Insurance; Revised outlook to Stable; Downgraded Minami-Nippon Bank rating to BBB+/Stable; Downgraded rating on Ome Shinkin Bank to BBB from BBB+; Revised direction to Credit Monitor to Positive for NikkoCiti Trust and Banking; JCR Upgraded Rating on Telefonica from A-/Stable to A/Stable
JCR Upgraded Rating on Telefonica Europe from A- to A; Affirms A Ratings on Renault's FC and Samurai Bonds;Outlook Negative

Dec. 16, 2008: Assigned J-1 to healthcare fees receivable ABL08-12 (Shuyukai); Affirmed J-1+ on CP of Tokio Marine & Nichido Fire Insurance; Affirmed BBB/Stable on senior debts of Softbank Telecom; Affirmed BBB/Stable and J-2 on sr.debts and CP of Softbank; Downgrades Bulgaria to BBB/BBB+ (FC/LC); Affirms A-/A (FC/LC) Ratings to Poland, revises outlook to stable; Affirmed A-/Stable on senior debts of Tomakomai Shinkin Bank

Dec. 15, 2008: Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 08-12

Dec. 12, 2008: Assigned J-1 to healthcare fees receivable ABL08-12 (Kyowakai); Assigned preliminary J-1 to A&D Bills Receivable Trust Certificates; Assigned AA- to bonds of Mitsui O.S.K. Lines; Assigned A+ to bonds of Kobe Steel; Assigned AA+ to bonds of Osaka (City of); Affirmed AA/Stable on sr.debts of Nomura Real Estate Residential Fund; Affirmed A-/Stable and J-1 on Don Quijote; Affirmed BBB/Stable on senior debts of Toyo Logistics; Assigns A Rating on France Telecom; Outlook Stable

Dec. 11, 2008: Assigned J-1 to healthcare fees receivable ABL08-12 (B Hospital); Assigned AA- to bonds of Odakyu Electric Railway; Affirmed J-1 on CP of Nissay Leasing; Affirmed BBB/Stable on senior debts of Eiken Chemical; Assigned A+ rating to sub.bonds of Nomura Holdings; Assigned AAA to bonds of Tokyo Electric Power Company; Assigned AA- to bonds of Sumitomo Chemical; Assigned AA- to bonds of Sumitomo Metal Industries

Dec. 10, 2008: Assigned J-1 to Hayakawa Rubber Bills Receivable ABL08-12; Assigned A+ rating to sub.bonds of Mizuho Bank; Affirmed AA+/Stable and J-1+ on Japan Trustee Services Bank; Affirmed AA+/Stable and J-1+ on LT and ST sr.debts of Master Trust Bank of Japan; Placed Futaba Industrial ratings under Credit Monitor Negative; Assigned J-1 rating to short-term sr.debts of Shinsei Bank; Assigned AA to bonds of Sumitomo Electric Industries

Dec. 09, 2008: Assigned J-1 to Nohara Bills Receivable ABL08-12; Affirmed A-/Stable and J-1 rating on Kobelco Construction

Dec. 08, 2008: Affirmed BBB+/Stable and J-2 on San-Ai Oil; Assigned preliminary A to shelf reg. of Chuo Mitsui Trust and Banking; Downgraded ratings on Anabuki Construction to BB+ and J-3

Dec. 05, 2008: JCR Affirmed BBB/Stable on Okasan Securities Group
JCR Affirmed BBB/Stable on Okasan Securities; Affirmed BBB and J-2 on Sojitz; revised outlook to Stable; Affirmed J-2 on CP program of Shoko; Affirmed BBB/Stable and J-2 on sr.debts and CP of Joshin Denki; Affirmed BBB+/Stable and J-2 on Cosmo Oil; Affirmed AA-/Stable on Mori Hills REIT Investment; Assigned AAA to bonds of Chugoku Electric Power; Downgraded Japan Asia Investment rating to BB+; Removed CM Negative

Dec. 04, 2008: Assigned AAA to bonds of Development Bank of Japan Inc.; Assigned AA- rating to bonds of Mizuho Corporate Bank; Affirmed A-/Stable and J-1 for Parco; Assigned AA+ to bonds of NTT Data; Removed from CM; Affirmed A/Stable on Nippon Car Solutions

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