News Release

Nov. 19, 2008: Assigned J-1 to healthcare fees receivable ABL08-11 (C Hospital); Assigned AAA to bonds of Tokyo Electric Power Company

Nov. 18, 2008: Assigned J-1 to dispensing fees ABL08-11 (sun-kur Corporation); Assigned J-1 to healthcare fees ABL08-11 (E Hospital); Assigned J-1 to healthcare fees ABL08-11 (F Hospital); Affirmed A/Stable and A on sr.debts and bonds of Hokuetsu Paper Mills

Nov. 17, 2008: Assigned J-1 to Kurashiki Medical Center Trust Certificates 08-11; Assigned J-1 to healthcare fees receivable ABL08-11 (Shuyukai); JCR Affirmed AA-/Stable on Mitsui O.S.K. Lines; Affirmed A/Stable and J-1 on sr.debts and CP of Kawasaki Kisen; Affirmed A/Stable on senior debts of Calsonic Kansei; JCR Assigned AA- to euroyen notes of Mitsui O.S.K. Finance Plc; JCR Affirmed AA- on EMTN of Mitsui O.S.K. Lines
JCR Affirmed AA- on EMTN of Euromol; Affirmed BBB/Positive on Chiba Kogyo Bank; Affirmed A on Aomori Bank; Revised outlook to Negative; Removed CM (Negative) and affirmed BBB-/Stable on Towa Bank

Nov. 14, 2008: Assigned J-1 to healthcare fees receivable ABL08-11 (A Hospital); Assigned J-1 to healthcare fees receivable ABL08-11 (Kyowakai); Affirmed A+/Stable on sr.debts of Yokogawa Electric; Placed rating on Aozora Bank under Credit Monitor Negative; Affirmed A-/Stable and J-1 on Tsubakimoto Chain; Assigned AAA to bonds of Chugoku Electric Power; Assigned AA+ to bonds of Japan Student Services Organization

Nov. 13, 2008: Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 08-11; Assigned AA to bonds of Urban Renaissance Agency; Affirmed A-/Stable on senior debts of Hokuto

Nov. 12, 2008: Affirmed BBB+/Stable and J-2 on Showa Sangyo; Affirmed A-/Stable and J-1 on Nippon Flour Mills; Affirmed A-/Stable on sr.debts of Nippon Flour Mills; Assigned AA+ to bonds of Osaka (City of); Affirmed AA-/Stable on Sumitomo Mitsui Finance and Leasing; Affirmed A/Stable and J-1 on sr.debts and CP of Takara Holdings

Nov. 11, 2008: Assigned J-1 to healthcare fees receivable ABL08-11 (B Hospital); Affirmed A+/Stable and J-1 on sr.debts and CP of JFE Shoji Trade; Affirmed BBB/Stable on senior debts of Toyo Logistics; Affirmed AA/Stable and J-1+ on Mitsubishi Logistics; Affirmed A+/Stable on sr.debts of JFE Shoji Holdings; Placed ratings on Mitsubishi Rayon under Credit Monitor Negative

Nov. 10, 2008: Assigned J-1 to Hayakawa Rubber Bills Receivable ABL08-11; Affirmed A+/Stable on senior debts of Hekikai Shinkin Bank; Affirmed J-1+ on CP of Tokyo Electric Power Company

Nov. 07, 2008: Assigned J-1 to Nohara Bills Receivable ABL08-11; Affirmed A/Stable on senior debts of Kyowa Exeo; Affirmed A-/Stable on senior debts of Commuture; Affirmed A-/Stable on sr.debts of Daimei Telecom Engineering; Affirmed A+/Stable and J-1 on Tokyu Corporation; JCR Affirmed BBB/Stable on senior debts of Tobu Railway
JCR Affirmed BB+ on TR Preferred Capital; Affirmed BBBp/Stable on senior debts of Nippon Denwa Shisetsu; Affirmed A-/Stable on Keisei Electric Railway; Affirmed AA/Stable and J-1+ on Keio Corporation; Affirmed AA-/Stable and J-1+ on Odakyu Electric Railway; Affirmed A+/Stable and J-1 on Keihin Electric Express Railway; Affirmed A rating on Okazaki Shinkin Bank; Revised outlook to Stable; Affirmed A-/Stable on senior debts of Amagasaki Shinkin Bank; Affirmed A-/Stable on senior debts of Maruzen Showa Unyu; Upgraded rating on Jowa Holdings to BBB+; Downgraded Bank of Ikeda to #BBB+: Continues CM with Developing; Downgrades GMAC to #B-/Negative

Nov. 06, 2008: Affirmed A+/Stable and J-1 on Mitsubishi Plastics; Affirmed A+/Stable and J-1 on Mitsubishi Chemical; Affirmed J-2 on CP of Sumitomo Light Metal Industries; Affirmed A+p/Stable on senior debts of Mitsubishi Tanabe Pharma

Nov. 05, 2008: Affirmed A-/Stable on senior debts of Taiho Kogyo; Placed ratings on Daikyo Inc. under Credit Monitor Negative

Nov. 04, 2008: Affirmed BBB+/Stable on senior debts of Yamazen; Affirmed AA- on EMTN of Mitsubishi UFJ Lease & Finance; Affirmed A/Stable on senior debts of Noritake

Oct. 31, 2008: Assigned J-1+ to Teral Kyokuto Bills Receivable ABL08-10; Assigned J-1 to Molten Bills Receivable ABL08-10; Assigned J-1 to Toda Kogyo Bills Receivable ABL08-10; Affirmed AAA/Stable on Tokio Marine Financial Solutions; Downgraded senior debts of Sendai Bank to BBB/Stable; Downgraded sr.debts of Nishimatsu Construction to A-p/Stable; Downgraded rating on Belluna to BBB/Negative from BBB+/Stable; Affirmed J-1 on CP of UC Card

Oct. 30, 2008: Assigned J-1 to Nippon Tungsten Bills Receivable ABL08-10; Assigned J-1 to Aso Shoji Bills Receivable ABL08-10; Removed CM; Downgraded ratings on TIS to A-; Assigned A-/Stable to sr.debts of IT Holdings Corporation; Assigned preliminary A rating to shelf of Ogaki Kyoritsu Bank; JCR Removed CM; Upgraded ratings on Intec Holdings to A-
JCR Removed CM; Upgraded ratings on Intec to A-; Affirmed J-2 on CP of Kokusai Pulp & Paper; Affirmed A-/Stable on senior debts of Shizuoka Shinkin Bank

Oct. 29, 2008: Assigned J-1 to Bills Receivable ABL08-10 (B Corporation in Mie); Assigned J-1 to Osaka Steel Tube Bills Receivable ABL08-10; Affirmed A+/Stable on senior debts of Obayashi; Affirmed A-/Stable and J-1 on sr.debts and CP of Daiichikosho; Affirmed A+p/Stable on senior debts of Shimizu Corp.; Withdrawn D rating on CP Program of Credia; Affirmed BBB+/Stable on senior debts of Tohoku Bank; Assigned AA to bonds of URA; JCR Downgraded rating on Nikko city holdings to #A+ ;Maintains Credit Monitor
JCR Downgraded rating on Nikko Cordial Securities to #A+ ;Maintains Credit Monitor
JCR Downgraded rating on NikkoCiti Trust and Banking to #A+ ;Maintains Credit Monitor; Affirmed AA+/Stable and J-1+ on sr.debts and CP of NTT Data

Oct. 28, 2008: Assigned J-1 to SEIBUKIZAI Bills Receivable ABL08-10; Affirmed A+/Stable on senior debts of Akita Bank; Affirmed A+/Positive on sr.debts of Yamada Denki; Assigned A+ to sr.debts of Nippon Steel Logistics; Affirmed J-1; JCR Downgraded rating on Nomura Holdings to AA-; Removed rating from CM
JCR Downgraded rating on Nomura Securities to AA-,A+; Removed rating from CM
JCR Removed Credit Monitor; Affirmed AA- on Nomura Trust and Banking
JCR Downgraded rating on Nomura Europe Finance to AA-; Removed rating from CM
JCR Downgraded rating on Nomura Global Funding to AA-; Removed rating from CM
JCR Downgraded rating on Nomura Bank International to AA-; Removed rating from CM

Oct. 27, 2008: Assigned J-1 to Bills Receivable ABL08-10 (A Corporation in Aichi)

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