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U.S. Dollar-Denominated Straight Bonds Issued By Japan's Sumitomo Mitsui Banking Corp. Rated 'A+' Jan 12 Product Image

U.S. Dollar-Denominated Straight Bonds Issued By Japan's Sumitomo Mitsui Banking Corp. Rated 'A+' Jan 12

  • Published: January 2012
  • Region: Japan, United States
  • Standard & Poors

Abstract
TOKYO (Standard & Poor's) Jan. 6, 2012--Standard & Poor's Ratings Services today assigned its 'A+' rating to the U.S. dollar-denominated straight bonds issued by Sumitomo Mitsui Banking Corp. (SMBC; A+/Negative/A-1) (see list below). The long-term counterparty credit rating on SMBC reflects its consolidated financial profile, as well as the consolidated financial profile and market position of its parent company, Sumitomo Mitsui Financial Group Inc. (SMFG; A/Negative/A-1). This is because the businesses of SMBC and other group companies are highly related, and the holding company retains the ability to reorganize the entity and to reallocate capital within the group. In addition, given its importance in Japan's financial system, the long-term counterparty rating on SMBC benefits from a one-notch uplift from the...

Companies mentioned in this report are:
- Sumitomo Mitsui Banking Corp.
- Sumitomo Mitsui Financial Group Inc.

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. READ MORE >

- Sumitomo Mitsui Banking Corp.
- Sumitomo Mitsui Financial Group Inc.

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