S&P Takes Rtg Actions on 3 Japan General Trading Cos Jul 98
Standard & Poors, July 1998
Abstract
TOKYO -- Standard & Poor's CreditWire 7/9/98 -- Standard & Poor's today lowered the long-term and short-term ratings of Mitsubishi Corp. and related entities, as well as the short-term ratings of Sumitomo Corp. and related entities. Standard & Poor's also affirmed the short-term ratings of Mitsui & Co. Ltd. and related entities. All ratings were removed from CreditWatch, where they were placed on June 5, 1998. The outlook for Mitsubishi's long-term rating is negative. Standard & Poor's does not assign long-term ratings to Mitsui and Sumitomo (see ratings list below). The rating actions reflect the Japanese general trading companies' exposure to greater risks from nontrading investments under currently difficult economic and business conditions in Japan and throughout Asia. All three...
Companies mentioned in this report are: Mitsubishi Corp.,Mitsui & Co. Ltd.,Mitsubishi International Corp.,Sumitomo Corp. of America,Mitsui & Co. (USA) Inc.,Sumitomo Corp.,Mitsubishi Corp. Finance PLC,Mitsui & Co. Financial Services (Europe) B.V.,Sumitomo Corp. Capital Europe PLC,Mitsui & Co. U.K. PLC,Mitsui & Co. (Hong Kong) Ltd.,Mitsui & Co. Financial Services (Australia) Ltd.,Mitsui & Co. (Australia) Ltd.
Action: Various Rating Actions
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.,Mitsui & Co. Ltd.,Mitsubishi International Corp.,Sumitomo Corp. of America,Mitsui & Co. (USA) Inc.,Sumitomo Corp.,Mitsubishi Corp. Finance PLC,Mitsui & Co. Financial Services (Europe) B.V.,Sumitomo Corp. Capital Europe PLC,Mitsui & Co. U.K. PLC,Mitsui & Co. (Hong Kong) Ltd.,Mitsui & Co. Financial Services (Australia) Ltd.,Mitsui & Co. (Australia) Ltd.
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