News Release

Oct. 08, 2021

JCR Assigned AA Rating to Bonds of Kansai Electric Power

JCR Assigned A+ Rating to Bonds of Takeda Pharmaceutical

JCR Assigned AAA Rating to Bonds of Tokyo Metro

JCR Assigned A- Rating to Bonds (Tier 1 with loss absorption clause) of Mitsubishi UFJ Financial Group

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

[ Asset Securitization Products ] JCR Assigned Preliminary A to Securitization of Leases Receivable 202110

JCR Assigned Green 1 to the 3rd Public Bonds Issued by Nagano Prefecture

Oct. 07, 2021

JCR Assigned AA+/Stable Long-term Issuer Rating to National University Corporation The University of Electro-Communications

JCR Assigned AA Rating to Bonds of Chubu Electric Power

JCR Assigned A+ Rating to Bonds of NIPPON SANSO HOLDINGS

Oct. 06, 2021

JCR's Rating Review of Blast Furnace Steel Manufacturers

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Japan Medical Alliance

JCR Affirmed AA/Stable Long-term Issuer Rating on Iyo Bank

JCR Assigned BBB+ to Subordinated Bonds of Japan Airlines

JCR Assigned AA- Rating to Bonds of SoftBank Corp.

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Assigned A+ Rating to Bonds of SUMITOMO CHEMICAL

JCR Affirmed BBB+/Stable (FC), A-/Stable (LC) and BBB+ on Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara

Oct. 05, 2021

JCR Affirmed A/Stable, A, and J-1 on SKY Perfect JSAT Holdings

JCR Affirmed BBB+/Stable and BBB+ on Kanagawa Chuo Kotsu

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

JCR Assigned A Rating to Bonds of Tokyu Fudosan Holdings

Oct. 04, 2021

JCR Affirmed A/Negative, A, BBB+ and J-1 on Rakuten Group

JCR Affirmed A/Negative, A and J-1 on Rakuten Card

JCR Affirmed A/Negative and J-1 on Rakuten Bank

JCR Affirmed A/Negative Long-term Issuer Rating on Rakuten General Insurance

JCR Assigned AAA Rating to Bonds of African Development Bank

[ Asset Securitization Products ] JCR Assigned A+ to Ganymede Limited Series 2021-125

JCR Assigned SU 1 (Preliminary Evaluation) to Sustainability Bonds Issued by United Urban Investment Corproation

Oct. 01, 2021

Revisions to Rating Methodology for Banks

Revision of Sovereign Rating Methodology

JCR Assigned A+/Stable Long-term Issuer Rating to INFRONEER Holdings
JCR Upgraded Rating on MAEDA from A/Positive, A and Preliminary A to A+/Stable, A+ and Preliminary A+

JCR Assigned AA-/Stable, Preliminary AA- and J-1+ to Sumitomo Mitsui Auto Service

JCR Assigned A+/Stable Long-term Issuer Rating to Juroku Financial Group
JCR Upgraded Rating on Juroku Bank from A/Positive to A+/Stable

JCR Assigned A+/Stable Long-term Issuer Rating to Okinawa Financial Group

JCR Affirmed A/Stable, A, Preliminary A and J-1 on TSUBAKIMOTO CHAIN

JCR Affirmed AA- Rating on EMTN of Nomura Europe Finance
JCR Affirmed AA- Rating on EMTN of Nomura Global Finance; Increase in Maximum Amount of Program

JCR Assigned AAA Rating to Bonds of Metropolitan Expressway

JCR Assigned Preliminary A Rating to Shelf Registration of Nisshin OilliO Group

JCR Affirmed A- on JRE Mega Solar Project Bond Trust 1 Class A Beneficial Interest and Class A Trust ABL

JCR Affirmed A on JRE Mega Solar Project Bond Trust 1 Class B Beneficial Interest and Class B Trust ABL

JCR Affirmed BBB+ on JRE Mega Solar Project Bond Trust 1 Class C Beneficial Interest

JCR Affirmed A on JRE Mega Solar Project Bond Trust 2 Beneficial Interest

Sep. 30, 2021

JCR Assigned J-2 Rating to CP of Monex Finance

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

JCR Assigned Preliminary AA to Shelf Registration of Tokyo Waterfront Area Rapid Transit; Affirmed AA/Stable and AA

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

JCR Affirmed AA- on Cypher Limited Series 290

JCR Affirmed AA- on Sylph Limited Series 1839

JCR Affirmed AA- on Sylph Limited Series 1888

[ Asset Securitization Products ] JCR Assigned AAA to Class A Beneficial Interest 202109

[ Asset Securitization Products ] JCR Assigned AA- to Ascent Finance Limited Series 2021-1023

JCR Assigned AA- to Securitization of Loans Receivable from SB 202109

JCR Assigned AA- to Securitization of Leases Receivable from SB 202109

JCR Assigned Green 1 (Preliminary Evaluation) to Unsecured Bond by Frontier Real Estate Investment Corporation

JCR Assigned Green 1(F) to Green Finance Framework of Frontier Real Estate Investment Corporation

JCR provided a third party opinion on Sustainability Linked Loans conducted by The Norinchukin Trust & Banking to Tokyo Century

JCR provided a third party opinion on Sustainability Linked Loans conducted by The Shizuoka Bank to Yamaichi Metal

JCR provided a third party opinion on Sustainability Linked Loans conducted by JA Mitsui Leasing to GPSS Holdings

JCR provided a third party opinion to Positive Impact Finance provided by Shizuoka Bank to URBAN

JCR provided a third party opinion to Positive Impact Finance provided by Shizuoka Bank to EC Center

JCR provided a third party opinion to Positive Impact Finance provided by Shizuoka Bank to Yamasei Warehousing

JCR provided a third party opinion to Positive Impact Finance provided by Shizuoka Bank to Kobayashi Corporation

JCR provided a third party opinion to Positive Impact Finance provided by Sumitomo Mitsui Trust Bank to MEIDENSHA

Sep. 29, 2021

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

JCR Affirmed BBB/Stable (FC/LC) on Russian Federation

JCR Affirmed AAA/Stable Long-term Issuer Rating on Inter-American Development Bank

JCR Assigned Preliminary AA- Rating to Shelf Registration of Global One Real Estate Investment Corporation

JCR Assigned AA- to Elva Funding PLC Series 2021-27

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 21-09 (D Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL 21-09

[ Asset Securitization Products ] JCR Assigned J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 21-09

Sep. 28, 2021

[ Asset Securitization Products ] JCR Affirmed J-1+ on Monthly Clear Receivable Securitization ABL Program (Japan Securitization Corporation)

JCR Assigned BBB+ to TRIBAY Low Voltage Solar Power Green Project Bond Trust Trust ABL

JCR Assigned AA- to Oxygen Capital Limited Series 171

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 to Positive Impact Finance Provided by Shizuoka Bank to Nozue Shouten

JCR Assigned Green 1 (Final Evaluation) to Commitment Line by Method of Syndicated Loan Borrowed by Vehicle Energy Japan

JCR Assigned Green 1 to TRIBAY Low Voltage Solar Power Green Project Bond Trust Trust ABL

JCR Reviewed 1st and 2nd Bonds Issued by Renova

Sep. 27, 2021

JCR Affirmed A-, Preliminary A- and J-1 on NEC Capital Solutions; Revised Outlook from Stable to Positive

JCR Affirmed AA-/Stable (FC/LC) on Republic of Chile

JCR Affirmed J-1 Rating on CP of Orient Corporation; Increase in CP Maximum Amount

[ Asset Securitization Products ] JCR Affirmed AAA and A- on Class A and Class B Beneficial Interests on Sakura Investment Purpose Condominium Loan Securitization Series 1

[ Asset Securitization Products ] JCR Affirmed AAA and A- on Class A and Class B Beneficial Interests on Jupiter Investment Purpose Condominium Loan Backed Beneficial Interests 2013

JCR Provided a Third Party Opinion on Sustainability Linked Loans to Sanken Electric

Sep. 24, 2021

JCR Assigned Preliminary BBB Rating to Shelf Registration of Sanken Electric

[ Asset Securitization Products ] JCR Assigned BBB and BBB- to ABL 21-09

JCR Provided a Third Party Opinion on Sustainability Linked Loans Conducted by Mizuho Bank to Tokyo Century

JCR Assigned Green 1(F) to Green Finance Framework of DREAM Private REIT

Sep. 22, 2021

Nishimatsu Construction Passes Resolution to Purchase Treasury Shares - Downward Pressure on Rating; JCR Will Pay Attention to Speed of Financial Structure Recovery

MUFG's Transfer of Union Bank Shares - Limited Impact on Creditworthiness at Present

JCR Affirmed AA-/Stable, AA- and J-1+ on JERA

JCR Affirmed A/Stable, A on Hokuetsu Corporation

JCR Affirmed AAp/Stable Long-term Issuer Rating on Hitachi

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

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

Sep. 21, 2021

JCR Affirmed A+/Stable, A+, A-, Preliminary A+ and J-1 on SUMITOMO CHEMICAL