News Release

Feb. 19, 2020

JCR Affirmed A-/Stable, A- and J-1 on MITSUBISHI MATERIALS

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

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

JCR Affirmed BBB/Stable Long-term Issuer Rating on TOHOKU BANK

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL20-02

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL20-02 (F Hospital)

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

Feb. 18, 2020

JCR Removed Credit Monitor; Upgraded Rating on PARCO from #A/Positive to A+; Placed Stable Outlook; Affirmed J-1 on CP

JCR Affirmed AA Ratings on Corporacion Andina de Fomento with Stable Outlook

JCR Affirmed AA/Stable and AA on Daiwa Office Investment Corporation

Feb. 17, 2020

JCR Affirmed A+/Stable, A+ and Preliminary A+ on Mitsubishi Chemical Holdings

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

JCR Affirmed BBB/Stable Long-term Issuer Rating on Soken Chemical & Engineering

JCR Affirmed AA/Stable Long-term Issuer Rating on 77 Bank

JCR Affirmed AA+/Negative Long-term Issuer Rating on Shoko Chukin Bank

Feb. 14, 2020

JCR Reviewed Bonds of Kenedix Office Investment Corporation

JCR Upgraded Rating on Takasago Thermal Engineering from A-/Positive and A- to A/Stable and A

JCR Upgraded Rating on Kanagawa Prefectural Housing Supply Corporation from AA/Positive to AA+/Stable

JCR Assigned A- Rating to Bonds of NIPPON TOCHI-TATEMONO

JCR Assigned AA- Rating to Bonds of LaSalle LOGIPORT REIT

JCR Assigned AA Rating to Bonds of Sekisui House Reit

JCR Affirmed A+/Stable Long-term Issuer Rating on Aflac Incorporated
JCR Affirmed AA/Stable Long-term Issuer Rating and Ability to Pay Insurance Claims on American Family Life Assurance Company of Columbus
JCR Affirmed AA/Stable and AA- on Aflac Life Insurance Japan

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

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

Feb. 13, 2020

JCR Reviewed Long-term Loan Borrowed by Canadian Solar Infrastructure Fund

JCR Assigned Preliminary BBB+ to Amp Green Project Bond Trust (Fukuoka) Beneficial Interest and Trust ABL

JCR Assigned Preliminary A- Rating to Shelf Registration of Orient Corporation

JCR Affirmed J-2 Rating on CP of CMIC HOLDINGS; Increase in CP Maximum Amount

Feb. 12, 2020

JCR Upgraded Long-term Issur Rating and Ability to Pay Insurance Claims on Asahi Mutual Life from BBB-/Stable to BBB/Positive

JCR's Rating Review of 3 Major Shipping Companies

Feb. 10, 2020

NIPPON STEEL's Downward Revision of Earnings Forecast - No Immediate Impact on the Rating but Closely Watch the Future Performance Trend

Toho Zinc Revises Forecasts Downward - No Immediate Impact on Rating but Future Business Recovery to Be Watched

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

JCR Affirmed AA/Stable and AA on Sekisui House Reit

Feb. 07, 2020

JCR Assigned Social 1 to Bonds of National Institution for Academic Degrees and Quality Enhancement of Higher Education

JCR Assigned AAA Rating to Bonds of National Institution for Academic Degrees and Quality Enhancement of Higher Education

JCR Assigned A-/Stable Long-term Issuer Rating to ZENKOKU HOSHO

JCR Assigned BBB Rating to Subordinated Loan of ZENKOKU HOSHO

JCR Affirmed BBB+ and Preliminary BBB+ on Sanken Electric; Revised Outlook from Stable to Negative

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

JCR Assigned AA Rating to Bonds of MORI TRUST Sogo Reit

JCR Assigned Preliminary A+ to Shelf Registration of J. Front Retailing; Affirmed A+/Satble, A+ and J-1

JCR Affirmed A+/Stable Long-term Issuer Rating on Kyoritsu Women's Educational Institution

JCR Affirmed AA/Stable and AA on ORIENTAL LAND

Feb. 06, 2020

JCR Placed Rating on SOGO MEDICAL HOLDINGS under Credit Monitor #BBB/Negative

NTT FINANCE to Spin Off Part of Leasing Business and Global Business - No Impact on Rating

Tokyo Century’s Revisions to Medium-term Management Plan and Resolution for Third-party Allocation of Shares - JCR Values Progress of Measures for Increased Risks

JCR Assigned A Ratings to JPY Bonds Issued by Malayan Banking

JCR Assigned Preliminary BBB to Amp Green Project Bond Trust (Gunma) Beneficial Interest and Trust ABL

JCR Affirmed A+/Stable, A+ and J-1 on ITO EN

Feb. 05, 2020

JCR Assigned Social 1 (Preliminary) to Bonds of GAKKEN HOLDINGS

JCR Assigned BBB/Stable Long-term Issuer Rating to GAKKEN HOLDINGS

JCR Affirmed A and Preliminary A on Nippon Paper Industries; Revised Outlook from Negative to Stable

JCR Affirmed A+/Positive and A+ on MIRAI

Feb. 04, 2020

JCR Assigned Social 1 (Preliminary) to the Synthetic CLO (2020) of Japan Finance Corporation

JCR Upgraded Rating on Invincible Investment Corporation from A/Positive and A to A+/Stable and A+

JCR Assigned AA+/Stable Long-term Issuer Rating to JTC Holdings
JCR Affirmed AA+/Stable and J-1+ on Japan Trustee Services Bank
JCR Assigned AA+/Stable and J-1+ to Trust & Custody Services Bank

JCR Affirmed AA+/Stable and J-1+ on Master Trust Bank of Japan

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

JCR Affirmed A-/Stable and J-1 on Mitsui Sugar

Feb. 03, 2020

JCR Assigned Preliminary AA- Rating to Shelf Registration of SoftBank

JCR Affirmed AA-/Stable Long-term Issuer Rating on ROHM

Jan. 31, 2020

JCR Assigned AAA/Stable Long-term Issuer Rating and AAA to National Institution for Academic Degrees and Quality Enhancement of Higher Education

JCR Assigned Social 1(F) to Social Finance Framework of National Institution for Academic Degrees and Quality Enhancement of Higher

JCR Assigned Social 1 (Preliminary) to Bonds of National Institution for Academic Degrees and Quality Enhancement of Higher Education

JCR Assigned Green 1 to Trust Beneficiary Rights 202001 (Contract No. 210242)

JCR Assigned Green 1 (Final Evaluation) to Green Trust Beneficiary Rights of DREAM Private REIT

JCR Assigned Green 1 (Final Evalluation) to GL No.1 Borrowed by DREAM Private REIT

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

JCR Upgraded Ratings on Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara to BBB+/A- (FC/LC) with Stable Outlook

JCR Assigned Preliminary BBB+ Rating to Bonds of Daiwa Securities Group

JCR Assigned A+ Rating to Bonds of THK

JCR Affirmed A+ Rating on Sumitomo Realty & Development; Revised Outlook from Stable to Positive

JCR Affirmed AA+p/Stable Long-term Issuer Rating on Mitsubishi Estate

JCR Affirmed AA/Stable, AA, Preliminary AA and J-1+ on Mitsui Fudosan

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

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Electronically Recorded Receivable ABL20-01

JCR Withdraws J-1+ Rating on CP of Shutoken Leasing

Jan. 30, 2020

ZEST Investments B 1606-B01

Enhancing Explanation of ESG Factors in Credit Rating - JCR Started Including Relevant Explanations in the Issuer Report

JCR Affirmed A-/Stable Long-term Issuer Rating on Mitsuuroko Group Holdings

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

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

JCR Affirmed BBB+ (FC/LC) Ratings on Indian Railway Finance Corporation with Stable Outlook

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL20-01

Jan. 29, 2020

JCR Assigned Green 1 (Preliminary) to Green Trust Beneficiary Rights of DREAM Private REIT

JCR Assigned Green 1 (Preliminary) to GL No.1 Borrowed by DREAM Private REIT

JCR Assigned Green 1 (preliminary evaluation) to Daiwa Green Finance Program ABL

JCR Assigned Green 1 (preliminary evaluation) to Daiwa Green Finance Program Trust Beneficiary Interests

JCR Assigned Green 1 (final evaluation) to Green Ritz Series 1 Trust ABL

JCR Assigned Green 1 (final evaluation) to Green Ritz Series 1 Trust Beneficiary Interests

JCR Assigned Green 1(F) to ARUHI Green Finance Framework of ARUHI Corporation

JCR Assigned Preliminary A to Daiwa Green Finance Program Beneficial Interest and Trust ABL (Iwamizawa and Kushiro Solar Power Plants)

JCR Upgraded Rating on Ferry Road ETC Card Receivable ABL Program from J-1 to J-1+

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

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

Jan. 28, 2020

JCR Affirmed A+ Rating on SEINO HOLDINGS; Revised Outlook from Stable to Positive

JCR Affirmed AA+/Stable Long-term Issuer Rating on Seven & i Holdings
JCR Affirmed AA+/Stable Long-term Issuer Rating on SEVEN-ELEVEN JAPAN

JCR Affirmed A+/Stable, A+ and Preliminary A+ on Sumitomo Riko

JCR Affirmed J-1+ Rating on CP of TOYOTA MOTOR