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Bulletin: Share Buyback Has No Impact On ?A/A-1' Ratings On Mitsubishi Corp. Aug 07
Standard & Poors, Aug 2007
Abstract
TOKYO (Standard & Poor's) Aug. 23, 2007--Standard & Poor's Ratings Services today said its ratings on Mitsubishi Corp. (A/Positive/A-1) would not be affected by the company's share repurchase. Mitsubishi Corp. purchased 3% of its total shares outstanding in an off-floor purchase conducted earlier today. The share buyback did not impact the company's credit ratings because the amount was limited to roughly -150 billion, or about 5% of Mitsubishi's consolidated capitalization as of June 30, 2007. In recent years Mitsubishi Corp. has stated its strategy of actively increasing investments, which will lead to an increase in risk assets. Nevertheless, Mitsubishi is expected to maintain solid capitalization relative to anticipated risk exposures, and maintain a debt/equity ratio around 1x. The ratings on...
Companies mentioned in this report are: Mitsubishi Corp.
Action: Bulletin
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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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