Summary: Toho Bank Ltd. Jan 12

Standard & Poors, January 2012

Abstract
Standard & Poor's bases its ratings on Toho Bank on the company's "adequate" business position, "adequate" capital and earnings, "moderate" risk position, "average" funding, "strong" liquidity, and a "moderately high" likelihood of extraordinary government support in a time of need. The stand-alone credit profile (SACP) of Toho Bank is 'bbb+'. Our bank criteria use our Banking Industry Country Risk Assessment (BICRA) economic risk and industry risk scores to determine a bank's anchor SACP, the starting point in assigning an issuer credit rating (ICR). Our anchor SACP for a bank operating only in Japan is 'a-'. The BICRA score is informed by our evaluation of economic risk. We view Japan as a developed and diverse economy with strong net external balance,...

Companies mentioned in this report are: Toho Bank Ltd.
Action: Review

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Toho Bank Ltd.

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