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Japan-Based Chiba Bank's Fourth Unsecured Subordinated Bonds Rated 'A-' Mar 09
Standard & Poors, March 2009
TOKYO (Standard & Poor's) March 9, 2009--Standard & Poor's Ratings Services today assigned its 'A-' debt rating to the series four -10 billion unsecured, subordinated bonds issued by Chiba Bank Ltd. (A/Stable/A-1) due March 18, 2019. The bonds carry a special clause stipulating that advanced redemption is possible following the coupon rate step-up on March 18, 2014. The 'A-' subordinated debt rating is one notch lower than the long-term credit rating on Chiba Bank, reflecting the subordination of the notes....
Companies mentioned in this report are: Chiba Bank Ltd.
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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Chiba Bank Ltd.