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Rating On Mitsubishi Corp. Series 11 Syndicated Loan Confirmed At 'A+' Dec 10
Standard & Poors, December 2010
TOKYO (Standard & Poor's) Dec. 27, 2010--Standard & Poor's Ratings Services today confirmed its 'A+' rating on Mitsubishi Corp.'s (A+/Stable/A-1) syndicated loan, upon conclusion of the loan contract. We assigned the rating to this syndicated loan on Dec. 2, 2010, and today confirmed that the terms and conditions of the loan are unchanged: The issue amount of Series No. 11 unsecured floating-rate syndicated loan is -30 billion. The interest rate on the loan is three-month LIBOR plus one basis point and the maturity date is Jan. 14, 2016. Like ratings on bonds, bank loan ratings are a form of issue rating. And through our analysis of an individual bank loan's preservative attachment, such as collateral, and priority among other loans,...
Companies mentioned in this report are: Mitsubishi Corp.
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
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.