Eurodollar Bonds Issued Under Mitsubishi Corp.'s Euro MTN Program Rated 'A' - S&P Global Ratings’ Credit Research

Eurodollar Bonds Issued Under Mitsubishi Corp.'s Euro MTN Program Rated 'A'

Eurodollar Bonds Issued Under Mitsubishi Corp.'s Euro MTN Program Rated 'A' - S&P Global Ratings’ Credit Research
Eurodollar Bonds Issued Under Mitsubishi Corp.'s Euro MTN Program Rated 'A'
Published Jul 11, 2017
3 pages (1238 words) — Published Jul 11, 2017
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

TOKYO (S&P Global Ratings) July 11, 2017--S&P Global Ratings today said it has assigned its 'A' rating to the Eurodollar bonds issued under Mitsubishi Corp.'s (A/Stable/A-1) Euro medium-term note (MTN) program. The $500 million bonds, due July 14, 2022, have a coupon rate of 2.625%. Our rating on the bonds is the same as our long-term corporate credit rating on Mitsubishi, a Japan-based general trading and investment company. This reflects our current rating on Mitsubishi, the asset protection for the bonds, and the priority of payment of the bonds among its financial obligations. Our ratings on Mitsubishi reflect our following views: It has a diversified portfolio and a strong base built on both trading and investment businesses; its prospective three-year

  
Brief Excerpt:

...TOKYO (S&P Global Ratings) July 11, 2017--S&P Global Ratings today said it has assigned its 'A' rating to the Eurodollar bonds issued under Mitsubishi Corp.'s (A/Stable/A-1) Euro medium-term note (MTN) program. The $500 million bonds, due July 14, 2022, have a coupon rate of 2.625%. Our rating on the bonds is the same as our long-term corporate credit rating on Mitsubishi, a Japan-based general trading and investment company. This reflects our current rating on Mitsubishi, the asset protection for the bonds, and the priority of payment of the bonds among its financial obligations. Our ratings on Mitsubishi reflect our following views: It has a diversified portfolio and a strong base built on both trading and investment businesses; its prospective three-year weighted-average return on risk-weighted assets (RORA, the ratio of pretax net income to the amount of risk-based capital) from fiscal 2016 (ended March 31, 2017) will exceed 10%; and its three-year weighted-average adjusted capital...

  
Report Type:

Ratings Action

Ticker
8058@JP
Issuer
Mitsubishi Corp.
GICS
Trading Companies & Distributors (20107010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Japan
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Eurodollar Bonds Issued Under Mitsubishi Corp.'s Euro MTN Program Rated 'A'" Jul 11, 2017. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Eurodollar-Bonds-Issued-Under-Mitsubishi-Corp-s-Euro-MTN-Program-Rated-A-1880515>
  
APA:
S&P Global Ratings’ Credit Research. (). Eurodollar Bonds Issued Under Mitsubishi Corp.'s Euro MTN Program Rated 'A' Jul 11, 2017. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Eurodollar-Bonds-Issued-Under-Mitsubishi-Corp-s-Euro-MTN-Program-Rated-A-1880515>
  
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