guaranteed and its guaranteed bonds, in line with the A1 rating
assigned to the Japanese Government (GoJ, A1 stable).
21 October 2011 -- Moody's has attached an A1 rating
, with a "stable" outlook, to the JPY69bn (USD898.8m/EUR651.6m) series 737 senior unsecured debenture of Japan's Norinchukin Bank.
The affirmation of Family Mosaic's A1 rating
is supported by FMM's strong financial performance, including strong growth in turnover combined with rising margins, low debt relative to rated peers, strong interest cover and ample potential liquidity deriving from its strong unencumbered asset pool.
Because SMBC's A1 ratings
are at the same level as Japan's sovereign
As such, the A1 ratings
of BBK's covered bonds have been placed on review for upgrade.
The A1 rating
assigned to the senior unsecured bonds issued by SMFG is higher than the standard guideline provided in Moody's Bank Methodology, reflecting two notches of government support uplift for its main operating bank subsidiary, Sumitomo Mitsui Banking Corporation (SMBC, deposits A1/senior unsecured A1 stable, baseline credit assessment (BCA) a3).
The A1 ratings
of Chiba Bank are two notches higher than the bank's baseline credit assessment (BCA) of a3, due to our assumption of a very high probability of systemic support for the bank, given that it holds a high share of loans and deposits in Chiba Prefecture.
The A1 ratings
incorporate a three-notch uplift from the bank's baseline credit assessment (BCA) of b1, due to our assessment of the "very high"