U.S. Dollar-Denominated Straight Bonds Issued By Japan's Sumitomo Mitsui Banking Corp. Rated 'A+' Jan 12
- Language: English
- Published: January 2012
- Region: Japan, United States
TOKYO (Standard & Poor's) Jan. 19, 2012--Standard & Poor's Ratings Services said today that its ratings on Sumitomo Mitsui Financial Group Inc. (SMFG; A/Negative/A-1) are unaffected by SMFG's acquisition of an aircraft leasing business from The Royal Bank of Scotland Group PLC (RBS; A-/Stable/A-2). The ratings on SMFG's operating bank, Sumitomo Mitsui Banking Corp. (SMBC; A+/Negative/A-1), are also unaffected by the acquisition. SMFG has announced that it will acquire RBS's aircraft leasing business with total assets of approximately ¥550 billion. Although we expect the investment to have a negative impact on SMFG's capital ratio due to an increase in risk assets and goodwill, we believe the impact will be limited. In addition, we expect the risk-adjusted capital (RAC) ratio to...
Companies mentioned in this report are:
- Sumitomo Mitsui Financial Group Inc.
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