| May 30, 2008 |
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| "K" Line Issuer Rating Upgrades from A- to A |
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Kawasaki Kisen Kaisha, Ltd. ("K" Line) announces that the Rating
and Investment Information, Inc. (R&I) has upgraded the Issuer Rating
of the company from "A-" to "A", effective from May
30, 2008.
The rating on the Domestic Commercial Paper Programme remains
unchanged. |
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| Issuer Rating |
: A (Upgraded from A- ) |
| Rating Outlook |
: Stable |
| Commercial Paper Rating |
: a-1 (Affirmed) |
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| R&I cited the following major reasons for the upgrade: |
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| 1. | "K" Line, especially in bulk carrier segment, is poised to maintain a stabilized profit by signing long-term contracts with various customers. |
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| 2. | Equity capital will be steadily enhanced based on high profit. |
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| For further details, please contact: |
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| Kawasaki Kisen Kaisha, Ltd. Tokyo, |
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| Keisuke Yoshida, Executive Officer, General Manager, Finance Group |
| Tel:+81-3-3595-5015 |
| Fax:+81-3-3595-5174 |
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| Shinji Miyake, Manager, Finance Team |
| Tel:+81-3-3595-5609 |
| Fax:+81-3-3595-5174 |
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