News Release

Sep. 20, 2022

JCR Upgraded Long-term Issuer Rating on CAF to AA+/Stable

JCR Affirmed AA+p/Stable Rating on Ability to Pay Insurance Claims of Japan Earthquake Reinsurance

JCR Assigned Preliminary BBB- Rating to Subordinated Loan of ZENSHO HD

[ Asset Securitization Products ] JCR Assigned AAA Rating to Hayabusa 5

[ Asset Securitization Products ] JCR Assigned AAA Rating to Hayabusa 6

[ Asset Securitization Products ] JCR Assigned AAA Rating to Hayabusa 7

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 22-09

JCR Assigned AA to Libra A Limited Series C008

JCR Affirmed AA- on Elva Funding PLC Series 2021-16, 2021-21 and 2021-26

JCR Provided a Third Party Opinion to Sustainable Linked Loan Framework of The Kyushu Railway

Sep. 16, 2022

JCR Upgraded Long-term Issuer Rating on DAIICHI JITSUGYO to A-/Stable

JCR Affirmed A-/Stable Long-term Issuer Rating on Mazda Motor

JCR Assigned AA- Rating to Bonds (Tier 2 with loss absorption clause) of Gunma Bank

JCR Provided a Third Party Opinion to Positive Impact Assessment Provided by Sumitomo Mitsui Trust Bank to Daiwa Securities Group

Sep. 15, 2022

SBI Group's Tender Offer for ARUHI - Positive Impact on ARUHI's Business Foundation

JCR Affirmed A/Stable Long-term Issuer Rating on Hokuetsu Corporation

JCR Assigned AA- Rating to Bonds of JERA

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned Preliminary AA- to Securitization of Leases Receivable from SB 202209

JCR Assigned Preliminary AA- to Securitization of Loans Receivable from SB 202209

JCR Reviewed NGK INSULATORS' 7th Bonds (Green Bonds) Alignment to Green Bond Framework

Sep. 14, 2022

[ Asset Securitization Products ] JCR Upgraded Sumitomo Mitsui Trust Bank Credit Linked Loan 2018-2 from A to A+

JCR Affirmed AA- on SPARC Limited Series 2021-4

Sep. 13, 2022

JCR Affirmed BBB/Stable Long-term Issuer Rating on Scroll

JCR Affirmed A+/Stable Long-term Issuer Rating on HORIBA

JCR Assigned Preliminary A- Rating to Shelf Registration of Central Glass

JCR Assigned A+ Rating to Bonds of Japan Hotel REIT Investment Corporation

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 22-09

Sep. 12, 2022

JCR Upgraded Long-term Issuer Rating on ES-CON JAPAN to A+/Stable

JCR Upgraded Ratings on Malaysia to A+/AA- (FC/LC) with Stable Outlook

JCR Assigned Preliminary A- Rating to Subordinated Bonds of MORI BUILDING

JCR Assigned Preliminary A+ Rating to Shelf Registration of MORI BUILDING

[ Asset Securitization Products ] JCR Affirmed AA- on Ascent Finance Limited Series 2019-1003

[ Asset Securitization Products ] JCR Affirmed AA- on Ascent Finance Limited Series 2019-1005

JCR Affirmed AA- on Ascent Finance Limited Series 2020-1032, Ascent Finance Limited Series 2020-1035 and Ascent Finance Limited Series 2020-1043

JCR Affirmed AA- on Ascent Finance Limited Series 2020-1050

JCR Affirmed AA- on Ascent Finance Limited Series 2021-1200

Sep. 09, 2022

JCR Affirmed A-/Stable Long-term Issuer Rating on Kanamoto

JCR Affirmed BBB/Stable Long-term Issuer Rating on TOYO KANETSU

JCR Assigned AA- Rating to Bonds of Z HD

JCR Assigned A+ Rating to Subordinated Bonds of Tohoku Electric Power

JCR Assigned Preliminary AA- Rating to Subordinated Loan of National Mutual Insurance Federation of Agricultural Cooperatives

JCR Assigned Preliminary AA- to Bonds of Zenkyoren 2nd Subordinated Loan Securitization Company Limited

JCR Assigned AA- Rating to Bonds of Global One Real Estate Investment Corporation

JCR Assigned Preliminary A+ Rating to Shelf Registration of AIR WATER

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by 33 Bank to Maruyasu

Sep. 08, 2022

JCR Affirmed A-/Stable Long-term Issuer Rating on San ju San Financial Group
JCR Affirmed A-/Stable Long-term Issuer Rating on San ju San Bank

JCR Assigned A+ Rating to Bonds of INFRONEER HD

JCR Assigned A Rating to Bonds of TEPCO Renewable Power

JCR Assigned Preliminary A+ Rating to Shelf Registration of Mitsubishi Chemical Group

JCR Reviewed Bond no. 2 of GPSS Holdings

JCR Reviewed Bond no. 3 of GPSS Holdings

JCR Reviewed Bond no. 4 of GPSS Holdings

Sep. 07, 2022

JCR Affirmed AA+p/Stable Long-term Issuer Rating on Astellas Pharma

JCR Assigned A+ Rating to Bonds of THK

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to ABL 22-09

Sep. 06, 2022

JCR Affirmed A-/Stable and J-1 on Daio Paper

JCR Affirmed BBB/Stable Long-term Issuer Rating on Tokushu Tokai Paper

JCR Assigned Preliminary A Rating to Shelf Registration of TEPCO Renewable Power

JCR Assigned AA- Rating to Bonds of JERA

Sep. 05, 2022

Requirements for Equity Content for Sustainability-Linked Hybrid Financing - Changes in Economic Conditions Linked to SPTs Do Not Affect Equity Content Assessment

JCR Affirmed BBB+ and J-2 on Yanmar HD; Revised Outlook to Positive

JCR Affirmed A+ Long-term Issuer Rating on JCOM; Revised Outlook to Positive

JCR's Rating Review of Two Major Oil Distributors

JCR Affirmed A-/Stable Long-term Issuer Rating on ASAHI BROADCASTING GROUP HD

JCR Affirmed A+/Stable and J-1 on THK

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Chikuho Bank

[ Asset Securitization Products ] JCR Affirmed A on Nomura Trust Bank No. 72 Unsecured Trust Bonds

Sep. 02, 2022

JCR Affirmed A/Positive and J-1 on TAIHEIYO CEMENT

JCR Affirmed BBB+/Stable Long-term Issuer Rating on DAIKI ALUMINIUM INDUSTRY

JCR Affirmed J-2 Rating on CP of TSUBAKIMOTO KOGYO

JCR Affirmed AA-/Stable and J-1+ on Mori Trust HD

JCR Assigned A Rating to Bonds of IWATANI

JCR Assigned AA- Rating to Bonds of Mitsubishi Heavy Industries

JCR Assigned AA Rating to Bonds of Mitsubishi HC Capital

JCR Assigned Preliminary BBB to BCPG Fukushima Yabuki Green Project Bond Trust Beneficial Interest and Trust ABL

Sep. 01, 2022

Revision of Rating Methodology for "Rating Perspectives for Subsidiary Companies"

JCR Assigned AA Rating to Bonds of Chubu Electric Power

JCR Affirmed AA-/Stable and J-1+ on Meiji HD; Assigned Preliminary AA- to Shelf Registration

JCR Assigned Preliminary A Rating to Shelf Registration of Kawasaki Heavy Industries

JCR Assigned Preliminary AA- Rating to Shelf Registration of SAIBU GAS HD

[ Asset Securitization Products ] JCR Upgraded DFC Beneficiary Interest 202106 to AA+ and BBB+

JCR Affirmed AAA/Stable Long-term Issuer Rating on Japan Bank for International Cooperation

JCR Assigned Green 1(T)(F) to Transition Finance Framework of Shunan power

JCR Assigned Green 1(F) to Green Finance Framework of Sumitomo Metal Mining

Aug. 31, 2022

H.I.S. Announced Sale of Shares in Huis Ten Bosch - While Valuing its Financial Improvement, JCR Will Continue Paying Attention to the Full-fledged Recovery of its Travel Business

JCR Upgraded Long-term Issuer Rating on Mitsubishi Estate Logistics REIT to AA/Stable

[ Asset Securitization Products ] JCR Assigned AAA, A and A- to Beneficial Interest 202208

JCR Affirmed BBB on Amp Green Project Bond Trust (Gunma) Beneficial Interest and Trust ABL

JCR Affirmed BBB on Amp Green Project Bond Trust (Yamaguchi) Beneficial Interest and Trust ABL

JCR Affirmed BBB on Amp Green Project Bond Trust (Miyazaki) Trust ABL

[ Asset Securitization Products ] JCR Assigned AA- to Securitization of Loans Receivable 202208

[ Asset Securitization Products ] JCR Assigned Preliminary AAA Rating to Hayabusa 5

[ Asset Securitization Products ] JCR Assigned Preliminary AAA Rating to Hayabusa 6

[ Asset Securitization Products ] JCR Assigned Preliminary AAA Rating to Hayabusa 7

JCR Affirmed AA on SPIRE SA Series 2021-228

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to MARUYOU

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to KEISHOUEN

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to Sanwa Kaihatu

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to SAKURAI METAL