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'BBB+' Rating Affirmed on Mitsubishi Corp. Subsidiaries' Euro MTN Program Jun 03
Standard & Poors, June 2003
Abstract
TOKYO (Standard & Poor's) June 30, 2003--Standard & Poor's Ratings Services today affirmed its 'BBB+' rating on the US$5 billion Euro Medium Term Note Program of U.K.-based Mitsubishi Corp. Finance PLC (BBB+/Negative/A-2) and U.S.-based Mitsubishi International Corp. (BBB+/Negative/A-2). The rating on the Euro MTN program reflects the strong ties between the issuers and their parent company, Japanese general trading firm Mitsubishi Corp. (BBB+/Negative/A-2). The MTN program also benefits from a keepwell agreement from Mitsubishi Corp. The program size was decreased to US$5 billion from the original US$8 billion. In addition, MC Finance International B.V. is no longer included as joint-issuer of the program, reflecting the Mitsubishi Corporation group's financial policies. 'The issuer ratings on Mitsubishi International and Mitsubishi Corp. Finance...
Companies mentioned in this report are: Mitsubishi Corp.,Mitsubishi International Corp.,Mitsubishi Corp. Finance PLC
Action: Affirmed
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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