Mitsubishi Corp. Series 8 Syndicated Loan Assigned Preliminary 'A+' Rating May 08
Standard & Poors, May 2008
Abstract
TOKYO (Standard & Poor's) May 27, 2008--Standard & Poor's Ratings Services today assigned its preliminary 'A+' rating to Mitsubishi Corp.'s (A+/Stable/A-1) Series No. 8 -30 billion unsecured floating-rate syndicated loan maturing on June 20, 2013. The interest rate on the loan is six-month LIBOR plus five basis points. Like ratings on bonds, bank loan ratings are a form of issue rating and take into account the probability of default along with likely recovery prospects. Bank lenders will be treated the same as other senior creditors in the event of a bankruptcy or default since the floating-rate syndicated loan is unsecured. Although the loan does not contain a negative pledge, the seniority of the loan is considered the same as that...
Companies mentioned in this report are: Mitsubishi Corp.
Action: Preliminary 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
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.
Mitsubishi Corp.
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