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BULLETIN: Japanese Banks' Limited Exposure to WorldCom Jun 02 Product Image

BULLETIN: Japanese Banks' Limited Exposure to WorldCom Jun 02

  • ID: 2088744
  • June 2002
  • Region: Japan
  • Standard & Poors

FEATURED COMPANIES

  • Asahi Bank Ltd.
  • Mizuho Bank Ltd.
  • Mizuho Bank Ltd.(Old)
  • UFJ Bank Ltd.
  • UFJ Trust Bank Ltd.
  • MORE

Abstract
TOKYO (Standard & Poor's) June 28, 2002--Standard & Poor's said today that the exposure of Japanese banks to troubled corporate giant WorldCom Inc. (CCC-/Watch Neg/C) is relatively minor and any losses the banks could incur would not affect their ratings. While some major banks have exposure to WorldCom, this is at most less than 0.1% of their total loans. Japanese banks have been somewhat affected by increased credit risks in the U.S., such as from the collapse of Enron Corp., however most banks have been actively reducing their overseas assets in the past couple of years. For the major banks, the fragile condition of some domestic borrowers and the high level of corporate bankruptcies are of far greater concern....

Companies mentioned in this report are:
- Bank of Tokyo-Mitsubishi Ltd.
- UFJ Bank Ltd.
- Sumitomo Mitsui Trust Bank Ltd.
- Mitsubishi UFJ Trust and Banking Corp.
- Asahi Bank Ltd.
- UFJ Trust Bank Ltd.
- Sumitomo Mitsui Banking Corp.
- Mizuho Bank Ltd.(Old)
- Mizuho Bank Ltd.

Action: S&P Event

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial READ MORE >

- Bank of Tokyo-Mitsubishi Ltd.
- UFJ Bank Ltd.
- Sumitomo Mitsui Trust Bank Ltd.
- Mitsubishi UFJ Trust and Banking Corp.
- Asahi Bank Ltd.
- UFJ Trust Bank Ltd.
- Sumitomo Mitsui Banking Corp.
- Mizuho Bank Ltd.(Old)
- Mizuho Bank Ltd.

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