News Release

Oct. 22, 2020

JCR Affirmed (FC/LC) Ratings of BBB on Russia with Stable outlook

JCR Affirmed AA-/Stable and AA- on Japan Excellent

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 20-10

Oct. 21, 2020

JCR Affirmed AA-/Stable and J-1+ on Mitsubishi UFJ NICOS

JCR Affirmed AA Rating on EMTN of Mitsubishi UFJ Lease & Finance and MUL Asset Finance; Increase in Maximum Amount of Program

JCR Affirmed A-/Stable Long-term Issuer Rating on The Seto Shinkin Bank

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 20-10

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

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (Seiwakai Medical Corporation, Ishii Hospital)

JCR Affirmed A on Landmark Capital S.A. Series 2018-65

Oct. 20, 2020

JCR Upgraded Rating on Toyo Tire from BBB+/Positive, Preliminary BBB+, BBB- and J-2 to A-/Stable, Preliminary A-, BBB and J-1

JCR Assigned A+ Rating to Bonds of Nagoya Railroad

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

JCR Affirmed AA/Stable and AA on Industrial & Infrastructure Fund Investment Corporation

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 20-10 (F Hospital)

[ Asset Securitization Products ] JCR Affirmed A+ on ARLO XII Limited Series CLN-83

JCR Affirmed A+ Rating on Nomura Trust and Banking Unsecured Trust Bonds No. 37

Oct. 19, 2020

JCR Affirmed A+ Rating on NIPPON STEEL ENGINEERING; Revised Outlook from Stable to Negative

JCR Assigned Preliminary A+ Rating to Shelf Registration of Daicel

JCR Affirmed BBB/Stable and J-2 on Taiyo Oil

JCR Affirmed J-2 Rating on CP of Seibu Oil

JCR Affirmed A Rating on Shinhan Bank Japan with Stable Outlook

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

[ Asset Securitization Products ] JCR Affirmed BBB- on Specified Bonds 19-07-02

[ Asset Securitization Products ] JCR Affirmed A+ on JETS International Five Limited Series 171

Oct. 16, 2020

JCR Assigned A/Stable Long-term Issuer Rating to TEPCO Renewable Power

JCR Assigned AA- Rating to Bonds of JERA

JCR Assigned AA Rating to Bonds of Tokyo Waterfront Area Rapid Transit

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Assigned A+ Rating to Bonds of SUMITOMO CHEMICAL

JCR Assigned A- Rating to Bonds of Sumitomo Mitsui Construction

JCR Assigned AA+ Rating to Bonds of NARITA INTERNATIONAL AIRPORT

JCR Affirmed A/Stable and A on Nishimatsu Construction

JCR's Rating on Subordinated Loan of Asahi Group Holdings

Oct. 15, 2020

JCR Reviewed Bonds issued by Takasago Thermal Engineering

JCR Upgraded Rating on GIFU SHINKIN BANK from BBB+/Stable to A-/Stable

JCR Assigned A+ Rating to Bonds of Fuyo General Lease

JCR Assigned AA- Rating to Bonds of Tokyo Century

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned AA Rating to Bonds of Activia Properties

JCR Assigned Preliminary A- Rating to Shelf Registration of Tsukishima Kikai

JCR Affirmed A/Stable and J-1 on HEIWADO

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 20-10

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

Oct. 14, 2020

JCR Assigned Green 1 (Preliminary) to the 6th Bonds issued by Hulic Reit

JCR Affirmed A Rating on Juroku Bank; Revised Outlook from Stable to Positive

JCR Assigned A+ Rating to Bonds (Tier 2 with loss absorption clause) of Mizuho Financial Group

JCR Assigned AA- Rating to Bonds of Kenedix Office Investment Corporation

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

JCR Affirmed A-/Stable and J-1 on FUJI SOFT

JCR Affirmed A/Stable and A on Hokuetsu Corporation

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

JCR Affirmed AA-/Stable Long-term Issuer Rating on Marubeni Private Real Estate Investment Trust

Oct. 13, 2020

JCR Assigned Green 1(F) to Green Finance Framework of Hankyu Hanshin REIT

JCR Assigned A/Negative Long-term Issuer Rating to OSAKA STEEL

JCR Assigned A- Rating to Subordinated Bonds of MORI BUILDING

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

JCR Assigned Preliminary A Rating to Shelf Registration of TAIHEIYO CEMENT

JCR Affirmed A+/Positive and A+ on SONY

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

Oct. 12, 2020

JCR Upgraded Rating on Tsukishima Kikai from BBB+/Positive and BBB+ to A-/Stable and A-

JCR Assigned Preliminary A+ Rating to Shelf Registration of SUMITOMO HEAVY INDUSTRIES

JCR Assigned Preliminary BBB Rating to Shelf Registration of JALUX

JCR Affirmed BBB+/Stable Long-term Issuer Rating on ASAHI PRINTING

JCR Affirmed J-2 Rating on CP of KOKUSAI PULP&PAPER

Oct. 09, 2020

JCR Assigned Green 1 to the 9th and the 10th Unsecured Bonds to be Issued by Sumitomo Warehouse

JCR Assigned AA- Rating to Bonds of Sumitomo Warehouse

JCR Assigned A to Subordinated Bonds of Asahi Group Holdings

JCR Assigned AA- Rating to Bonds of Asahi Group Holdings

JCR Assigned A Rating to Subordinated Bonds of Kyushu Electric Power

JCR Assigned A+ Rating to Bonds of Hulic

JCR Assigned A Rating to Bonds of HIROSHIMA GAS

JCR Affirmed A- and Preliminary A- on SEIBU HOLDINGS; Revised Outlook from Stable to Negative

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned Preliminary BBB+ to FAM Reliant Energy Bond 2020_1 Beneficial Interest and Trust ABL

JCR Affirmed BBB+/Stable Long-term Issuer Rating on YAHAGI CONSTRUCTION

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Restar Holdings

JCR Affirmed A/Stable and A on AICHI STEEL

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

JCR Affirmed J-2 Rating on CP of Yanmar Holdings

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

JCR Affirmed AA-/Stable and AA- on ORIX

[ Asset Securitization Products ] JCR Affirmed A+ on Jupiter Capital Limited Series 2018-11

JCR Affirmed A+ on Sylph Limited Series 50152, 50163, 50174 and 50208

JCR Affirmed A+ on Sylph Limited Series 50153 and 50175

JCR Affirmed AA- on JETS International Two Limited Series 61

JCR Affirmed AA- on JETS International Two Limited Series 62

JCR Affirmed AA- on JETS International Two Limited Series 71

JCR Affirmed AA- on JETS International Two Limited Series 74

JCR Affirmed AA- on JETS International Two Limited Series 76

JCR Affirmed AA- on JETS International Two Limited Series 78

JCR Affirmed AA- on JETS International Two Limited Series 84

JCR Affirmed AA on JETS International Five Limited Series 125, 144 and 240

JCR Affirmed J-1+ Rating on ABCP Program of Nexus Asset Funding

JCR Affirmed J-1+ Rating on ABCP Program of Vector Asset Funding

JCR Withdraws A+/Negative and J-1 on PARCO

Oct. 08, 2020

JCR Assigned Green 1 (Final Evaluation) to Bonds no. 5 Issued by Penta-Ocean Construction

JCR Assigned A Rating to Bonds of PENTA-OCEAN CONSTRUCTION

JCR Assigned AAA Rating to Bonds of National University Corporation, the University of Tokyo