TOKYO (S&P Global Ratings) Sept. 22, 2021--S&P Global Ratings today said Japan-based Mitsubishi UFJ Financial Group Inc.'s (MUFG; A-/Stable/--) plan to sell its stake in U.S.-based subsidiary MUFG Union Bank N.A. (MUB) has positive and negative effects resulting in a neutral impact on MUFG's credit quality. MUFG said on Sept. 21, 2021, that it plans to sell its stake in MUB to U.S. Bancorp (USB). We think the biggest benefit for MUFG's credit quality will be an improvement in the group's risk-adjusted capital (RAC) ratio because the deal will enable it to unload risk-weighted assets. Reduced risk-weighted assets and net profit from the deal should more than offset the negative impact of excluding from MUFG's capital the USB shares it
