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BULLETIN: Mitsubishi Group Ratings Within Tolerance of Current Exposure to Mitsubishi Motors Apr 04
Standard & Poors, April 2004
Abstract
TOKYO (Standard & Poor's) April 26, 2004--Standard & Poor's Ratings Services said today that the current exposure to Mitsubishi Motors Corp.(MMC; CCC-/Watch Neg/--) of Bank of Tokyo-Mitsubishi Ltd. (BTM; BBB+/Watch Pos/A-2), Mitsubishi Corp. (A-/Stable/A-2), and Mitsubishi Heavy Industries Ltd. (BBB/Stable/--) is within the tolerance of the ratings on the companies. However, if the three group entities extend excessive support to securities issues by MMC, or if there is an obvious shift and concentration of loans from other creditors to BTM, the three companies' credit profiles could be damaged and ratings affected. BTM's current exposure to Mitsubishi Motors is likely to be manageable. However, if additional financial support exceeds an economically reasonable level, or if other banks' lending to MMC is...
Companies mentioned in this report are: Bank of Tokyo-Mitsubishi Ltd. ,Mitsubishi Corp.,Daimler AG,Mitsubishi Motors Corp.,Mitsubishi Heavy Industries Ltd.
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
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