tokyo

Moody’s withdraws A1 rating for perpetual notes of Norinchukin SPC

By k on August 28, 2009

Tokyo, August 27, 2009 — Moody’s Investors Service has withdrawn the A1
program rating available for perpetual subordinated debt to be issued
under the Subordinated Euro Medium Term Note (EMTN) Program of
Norinchukin Finance (Cayman) Limited (NFCL), a special purpose
corporation of The Norinchukin Bank (Norinchukin).

This action reflects Norinchukin’s decision to update its EMTN Program by
removing provisions for the [...]

sees challenges ahead for Japan’s export-related issuers

By k on August 20, 2009

Tokyo, August 20, 2009 — Moody’s Investors Service says fiscal-year,
first-quarter results for Japan’s export-related issuers show signs of
stabilization but that challenges remain.

A recently published comment by Moody’s notes that FY 1Q09 results
through June for Japan’s major automakers, consumer-electronics firms,
steel producers, and chemical companies are broadly in line with the
rating agency’s expectations of a significant decline [...]

Moody’s places NRI’s B1 on review for possible upgrade

By k on August 7, 2009

Tokyo, August 07, 2009 — Moody’s Investors Service has placed on review
for possible upgrade its B1 issuer and senior unsecured long-term debt
ratings for Nippon Residential Investment Corporation (NRI).

This review follows the announcement on August 6, 2009 by Advance
Residence Investment Corporation (ADR) and NRI on their basic agreement
of an M&A.
Previously, Pacific Holdings, Inc, a sponsor of [...]

Moody’s downgrades Aaa rating of one class and affirms all other ratings

By k on July 29, 2009

Tokyo, July 29, 2009 — Moody’s Investors Service announced today that it
has downgraded to Aa1 from Aaa the Class 3 trust certificates of the
Tokyo Metropolitan CLO Ninth transaction. The trust certificates had been
under review for possible downgrade since May 19, 2009. At the same time,
Moody’s says that it has affirmed the ratings of all other [...]

Moody’s assigns A2 ratings to the Sumitomo Corporation’s series 37

By k on July 10, 2009

Tokyo, July 10, 2009 — Moody’s Investors Service has assigned A2 ratings
to the issue of Series 37 JPY10 billion due 2019 Japan domestic bonds by
Sumitomo Corporation (Sumitomo). The rating outlook is stable. These are
takedowns from the company’s JPY200 billion domestic shelf registration
of December 2007, which is rated (P)A2.

The A2 ratings for Sumitomo are supported by [...]

Moody’s reviews Restay Hotels TMK deal for possible downgrade

By k on June 22, 2009

Approximately JPY 2.2 billion in a mezzanine specified loan and a
specified bond affected

Tokyo, June 22, 2009 — Moody’s Investors Service has placed under review
for possible downgrade the ratings of Restay Hotels Tokutei Mokuteki
Kaisha’s Mezzanine Specified Loan and Specified Bond. Final maturity will
take place in May 2014.

Mezzanine Specified Loan, Baa1 placed under review for possible
downgrade; previously, [...]

moody’s assigns Aaa to Japan Finance Organization for Municipalities’ bond

By k on June 9, 2009

oody’s assigns Aaa to Japan Finance Organization for Municipalities’ bond
due 2019; under review for possible downgrade along with other public
issuers in Japan

Total Amount of Debt Rated is Yen 25 Billion

Tokyo, June 09, 2009 — Moody’s Investors Service has assigned a Aaa
rating to Japan Finance Organization for Municipalities’ (JFM) Series 1
Japanese Yen 25 billion domestic senior [...]

Moody’s updates profiles of Japanese CMBS loans

By k on May 26, 2009

Tokyo, May 26, 2009 — Moody’s Investors Service has released a report
entitled,”Profile of Japan CMBS Loans: Updated as of End-March 2009.”