Mitsubishi Corp.'s Eurodollar Bonds Issued Under Its Euro Medium-Term Note Program Rated 'A'

TOKYO (S&P Global Ratings) June 28, 2019--S&P Global Ratings today said it has assigned its 'A' issue 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 9, 2024, have a coupon rate of 2.5%. Our rating on the bonds is the same as our long-term issuer credit rating on Mitsubishi, a Japan-based general trading and investment company. This reflects the asset protection for the bonds and their priority of payment among its financial obligations. We believe this issuance will help further diversify Mitsubishi Corp.'s funding sources by attracting more non-Japanese investors. We base our long-term issuer credit rating on Mitsubishi on its diversified portfolio and the strong base

...June 28, 2019 TOKYO (S&P Global Ratings) June 28, 2019--S&P Global Ratings today said it has assigned its 'A' issue 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 9, 2024, have a coupon rate of 2.5%. Our rating on the bonds is the same as our long-term issuer credit rating on Mitsubishi, a Japan-based general trading and investment company. This reflects the asset protection for the bonds and their priority of payment among its financial obligations. We believe this issuance will help further diversify Mitsubishi Corp.'s funding sources by attracting more non-Japanese investors. We base our long-term issuer credit rating on Mitsubishi on its diversified portfolio and the strong base of its trading and investment businesses. The rating also reflects our view that Mitsubishi Corp will continue to make a steady return on risk-weighted assets of around 15%. Mitsubishi Corp.'s aggressive spending...

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