TOKYO (Standard&Poor's) Sept. 29, 2006--Standard&Poor's Ratings Services today raised its long-term corporate credit rating on Sojitz Corp. to 'BB' from 'BB-' and its long-term senior unsecured debt rating on the company to 'BBB-' from 'BB+', reflecting Sojitz's improved capitalization and profitability. The corporate credit rating remains on CreditWatch with positive implications, while the long-term senior unsecured debt rating was removed from CreditWatch. The ratings were placed on CreditWatch with positive implications on April 28, 2006, following Sojitz's announcement of its plan to issue ¥300 billion in convertible bonds and buy back preferred stock worth ¥560.4 billion. "Sojitz has refocused on its core businesses after completing a financial restructuring plan started in fiscal 2004," said Standard&
