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Bulletin: Ratings On Sumitomo Mitsui Financial Group Unaffected By Acquisition Of Aircraft Leasing Business From RBS Jan 12 Product Image

Bulletin: Ratings On Sumitomo Mitsui Financial Group Unaffected By Acquisition Of Aircraft Leasing Business From RBS Jan 12

  • ID: 2041911
  • January 2012
  • Standard & Poors

Abstract
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.

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
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.

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- Sumitomo Mitsui Financial Group Inc.

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Note: Product cover images may vary from those shown

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