Impact on Japan's BTM, Mitsubishi Corp. From Mitsubishi Motors Bailout Jan 05

Standard & Poors, January 2005

Abstract
TOKYO (Standard & Poor's) Jan. 31, 2005--Standard & Poor's Ratings Services said today that its ratings on Bank of Tokyo-Mitsubishi (BTM; A-/Positive/A-1) and Mitsubishi Corp. (A-/Stable/A-2) would not be affected by the companies' plan to inject capital into Mitsubishi Motors Corp. (MMC; CC/Negative/--). The increased exposure to risk is expected to be manageable, given BTM and Mitsubishi Corp.'s solid overall financial profiles (see Standard & Poor's media releases "Mitsubishi Heavy Outlook To Negative on MMC Bailout Plan," and "Mitsubishi Motors Downgraded To 'CC'; Unsecured Debt To 'CCC+'," published today). Nevertheless, if any additional support were to rise beyond an amount that is considered economically rational, or MMC's bank borrowings become concentrated at BTM, Standard & Poor's may consider revising its...

Companies mentioned in this report are: Bank of Tokyo-Mitsubishi Ltd. ,Mitsubishi Corp.,Mitsubishi Motors Corp.,Mitsubishi Heavy Industries Ltd.
Action: General Comment

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.

Bank of Tokyo-Mitsubishi Ltd. ,Mitsubishi Corp.,Mitsubishi Motors Corp.,Mitsubishi Heavy Industries Ltd.

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