News Release

Mar. 31, 2021

JCR Assigned AA- to Securitization of Leases Receivable from SB 202103

JCR Assigned AA- to Securitization of Loans Receivable from SB 202103

JCR Assigned Green 1 (Final Evaluation) to 4th Unsecured Bond issued by GPSS Holdings Inc.

JCR Reviewed Green Financing Framework of ARUHI Corporation

JCR Provided a Third Party Opinion on Sustainability Linked Loans to Tokyo Century

JCR Provided a Third Party Opinion on Sustainability Linked Loans to Seibu Holdings

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to Tokyu Fudosan Holdings

JCR Provided a Third Party Opinion on Sustainability Linked Loans to SHIMIZU

JCR Provided a Third Party Opinion on Sustainability Linked Loans Provided by MUFG Bank to Nippon Yusen (NYK Line)

JCR Provided a Third Party Opinion on Sustainability Linked Loans Provided by Sumitomo Mitsui Banking to Nippon Yusen (NYK Line)

JCR Withdraws J-1 Rating on CP of TOHO HOLDINGS

JCR Withdraws J-1+ Rating on CP of HOYA

JCR Withdraws AA-/Stable and J-1+ on TOKYO DOME

JCR Withdraws AAA/Stable Long-term Issuer Rating on NTT DOCOMO

Mar. 30, 2021

JCR Assigned A- Ratings to JPY Bonds of the Philippines

JCR Affirmed AA+/Stable Long-term Issuer Rating on SECOM

[ Asset Securitization Products ] JCR Assigned J-1+ to Monthly Clear Receivable Securitization ABL Program

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL 21-03

[ Asset Securitization Products ] JCR Assigned J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 21-03

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 21-03 (D Hospital)

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (Ginnankai)

Mar. 29, 2021

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Sanyo Electric Railway

JCR Affirmed A- on Secruity Bank with Stable Outlook

JCR Affirmed A/A+ (FC/LC) Ratings with Stable Outlook and A Bond Rating on Poland

[ Asset Securitization Products ] JCR Assigned AAA to Grass Park Beneficial Interest Series 3

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to Furukawa Electric

Mar. 26, 2021

JCR Affirmed J-1+ Rating on CP of Chugoku Electric Power; Increase in CP Maximum Amount

JCR Affirmed A/Stable Foreign Currency Long-term Issuer Rating on America Movil

JCR Affirmed A/Stable Long-term Issuer Rating on Musashino Bank

JCR Assigned AA- to Ascent Finance Limited Series 2021-1005

JCR Assigned Social 1 to Long-term Loan Borrowed by Social Medical Corporation Seikoukai

Mar. 25, 2021

ISUZU’s New Partnership with HINO and TOYOTA - JCR Will Watch for Synergy Effects in CASE Response

JCR Upgraded Rating on NIFCO from A/Positive to A+/Stable

JCR Affirmed J-1+ Rating on CP of SoftBank; Increase in CP Maximum Amount

JCR Assigned Preliminary AA- Rating to Shelf Registration of TAISEI

JCR Affirmed BBB+/Stable and J-2 on MARUDAI FOOD

JCR Affirmed BBB+/Stable and BBB+ on NAGATANIEN HOLDINGS

Mar. 24, 2021

JCR Affirmed A and J-1 on Sanyo Special Steel; Revised Outlook from Stable to Negative

JCR Affirmed A-/Stable and A- on SENKO Group Holdings

JCR Affirmed AA-/Stable Long-term Issuer Rating on HAMAMATSU PHOTONICS

JCR Assigned AA- to Oxygen Capital Limited Series 141

JCR Assigned BBB+ to Canadian Solar Dual Tenor Green Project Bond Trust (Ibaraki/Hiroshima) Beneficial Interest and Trust ABL

JCR Assigned Green 1 (Final Evaluation) to Canadian Solar Dual Tenor Green Project Bond Trust (Ibaraki/Hiroshima) Trust ABL

JCR Assigned Green 1 (Final Evaluation) to Canadian Solar Dual Tenor Green Project Bond Trust (Ibaraki/Hiroshima) Beneficial Interest

Mar. 23, 2021

JCR Upgraded Rating on Tokyo Tatemono from A-/Positive, Preliminary A-, BBB to A/Stable, Preliminary A and BBB+; Affirmed J-1

JCR Upgraded Rating on Mortgage Corporation of Japan from A/Positive and A to A+/Stable and A+; Affirmed J-1

JCR Affirmed BBB+ on SCREEN Holdings; Revised Outlook from Stable to Positive

JCR Affirmed AAA/Stable Long-term Issuer Rating on Kyushu University

JCR Affirmed AA/Stable, AA, Preliminary AA and J-1+ on Sumitomo Electric Industries

JCR Affirmed A/Stable Long-term Issuer Rating and A on NICHIAS

JCR Assigned AA- to Sylph Limited Series 60016

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 21-03

Mar. 22, 2021

JCR Affirmed AA/Stable and AA on Frontier Real Estate Investment Corporation

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 21-03 (F Hospital)

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 21-03

Mar. 19, 2021

JCR Affirmed AA Rating on 77 Bank; Revised Outlook from Stable to Negative

JCR Affirmed BBB+/Stable Long-term Issuer Rating on EIKEN CHEMICAL

JCR Affirmed A-/Stable Long-term Issuer Rating on Tokyo Kiraboshi Financial Group and Kiraboshi Bank

JCR Affirmed A/Stable Long-term Issuer Rating on SBI Sumishin Net Bank

JCR Affirmed BBB/Stable Long-term Issur Rating on TOTTORI BANK

JCR Affirmed AA+/Stable, AA+ and Preliminary AA+ on NEW KANSAI INTERNATIONAL AIRPORT
JCR Affirmed AA+/Stable and AA+ on KANSAI INTERNATIONAL AIRPORT LAND

JCR Affirmed BBB+ (FC/LC) Ratings on Export-Import Bank of India with Stable Outlook

JCR Affirmed A-/A+ (FC/LC) Ratings on Mexico; Outlook Negative

Mar. 18, 2021

JCR Assigned AAA/Stable Long-term Issuer Rating to National University Corporation Osaka University

JCR Affirmed AA/Stable, AA, Preliminary AA and J-1+ on Mitsubishi UFJ Lease & Finance
JCR Affirmed AA on EMTN Program of MUL Asset Finance
JCR Removed Credit Monitor; Upgraded Rating on Hitachi Capital from #AA-/Positive to AA; Placed Stable Outlook; Affirmed J-1+

JCR Removed Credit Monitor; Upgraded Rating on Hitachi Capital Insurance from #AA-/Positive to AA; Placed Stable Outlook

JCR Affirmed A+/Stable, A+ and Preliminary A+ on HASEKO

JCR Affirmed AA+ (FC/LC) Ratings on Hong Kong with Stable Outlook

[ Asset Securitization Products ]JCR Assigned Preliminary J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 21-03

Mar. 17, 2021

JCR Assigned Preliminary BBB Rating to Subordinated Bonds of Mitsui O.S.K. Lines

JCR Assigned AA Rating to Bonds of United Urban Investment Corporation

JCR Affirmed A+/Stable, A+ and Preliminary A+ on SUMITOMO HEAVY INDUSTRIES

JCR Affirmed AA-/Stable, AA-, A, Preliminary AA- and J-1+ on Tokyo Century
JCR Affirmed AA-/Stable and J-1+ on NIPPON CAR SOLUTIONS
JCR Affirmed J-1 Rating on CP of Orico Auto Leasing
JCR Affirmed AA-/Stable and J-1+ on FUJITSU LEASING
JCR Affirmed J-1 Rating on CP of IHI Finance Support

JCR provided a third party opinion on Sustainability Linked Loans to　Screen Holdings Co. Ltd.

Mar. 16, 2021

RESORTTRUST Posts Impairment Loss - No Immediate Impact on Rating

JCR Assigned A+ Rating to Bonds of Nagoya Railroad

JCR Assigned AA+ Rating to Bonds of Nippon Building Fund

JCR Assigned AA Rating to Bonds of GLP J-REIT

JCR Affirmed A+/Stable, A+ and J-1 on DOWA HOLDINGS

[ Asset Securitization Products ] JCR Assigned AAA, AA- and AAA to Class A, B and C Bonds of Clover 2021, LLC.

JCR Assigned Social 1 to the Synthetic CLO (2021) of Japan Finance Corporation

JCR Reviewed Bonds issued by Tokyu Fudosan Holdings

Mar. 15, 2021

JCR Affirmed A-/Stable and A- on Shibusawa Warehouse

JCR Affirmed AA-/Stable and AA- on Sumitomo Warehouse

JCR Affirmed A/Stable, and A on FUJI ELECTRIC

JCR Affirmed A/Stable Long-term Issuer Rating on AIN HOLDINGS

JCR Assigned Preliminary AA- to Securitization of Leases Receivable from SB 202103

JCR Assigned Preliminary AA- to Securitization of Loans Receivable from SB 202103

[ Asset Securitization Products ] JCR Affirmed BBB and BBB- on 2165004_Trust ABL & Beneficial Interest

Mar. 12, 2021

JCR Assigned AA-/Stable Long-term Issuer Rating to Kenedix

JCR Affirmed AA-, AA- and Preliminary AA- on Kenedix Office Investment Corporation; Revised Outlook from Stable to Positive

Rakuten Announces Issuance of New Shares through Third-Party Allotment and Disposal of Treasury Stock - JCR Will Focus on Future Progress in Mobile Business

JCR Assigned Green 1 (T)(Final Evaluation) to Transition Loan Borrowed by Kawasaki Kisen

JCR Assigned Green 1 (Preliminary) to Canadian Solar Dual Tenor Green Project Bond Trust (Ibaraki/Hiroshima) Beneficial Interest

JCR Assigned Green 1 (Preliminary) to Canadian Solar Dual Tenor Green Project Bond Trust (Ibaraki/Hiroshima) Trust ABL

JCR Assigned Green 1 (Final Evaluation) and Provided a Third Party Opinion on Suitability for the Sustainability-Linked Bond Principles to the 2nd Unsecured Bonds Issued by Takamatsu Construction Group

JCR Assigned A- Rating to Bonds of TAKAMATSU CONSTRUCTION GROUP

JCR Assigned AA Rating to Bonds of Corporacion Andina de Fomento

JCR's Rating Review of General Construction Companies

JCR Affirmed AA-/Stable, AA- and Preliminary AA- on TAISEI