TOKYO (Standard&Poor's) Jan. 20, 2011--Standard&Poor's Ratings Services today assigned its 'AA-' debt rating to the ¥70 billion domestic unsecured straight bonds issued by Mitsui Sumitomo Insurance Co. Ltd. (MSI: AA-/Stable/A-1+), due Jan. 27, 2016. The coupon rate is 0.67%. The rating on MSI is based on Standard&Poor's view as follows: MSI is a core operating company within the MS&AD Insurance Group; MSI maintains a solid business franchise in corporate and individual insurance, backed by its strong ties with Mitsui and Sumitomo corporate groups; MSI is expanding its overseas business, especially in Asia; MSI maintains capitalization at a level commensurate with the rating, although it is vulnerable to stock price fluctuations; MSI's profitability is weaker
