|
| This section shows the bond ratings that Nippon
Paper Group, Inc. and Nippon Paper Industries Co., Ltd. have been assigned by
rating agencies. |
|
 Bond
ratings for Nippon Paper Group, Inc. |
| Rating Agency |
Long-term debts |
Short-term debts (CP) |
|
| Rating and Investment Information (R&I) |
A |
a-1 |
As of May
2006 |
| Japan Credit Rating Agency (JCR) |
A+ |
|
As of May
2006 |
| S&P |
BB+ BBB- |
|
As of March 2005 |
|
Notes
: Bond ratings for Nippon Paper Industries Co., Ltd. |
Bond ratings
for other consolidated subsidiaries |
| Currently, there are no remaining issued credit
balances outstanding subject to bond ratings. |
|
|
