Mitsubishi Corp.'s Proposed U.S. Dollar-Denominated Straight Bonds Rated 'A'

TOKYO (S&P Global Ratings) July 9, 2021--S&P Global Ratings today said it has assigned its 'A' long-term issue credit rating to Mitsubishi Corp.'s (A/Stable/A-1) proposed U.S. dollar-denominated senior unsecured bonds (see ratings list below). We equalize the issue credit rating on the bonds with our long-term issuer credit rating on the Japan-based general trading and investment company. This is because we see a limited possibility that any lenders might be significantly disadvantaged relative to other lenders, given our current issuer credit rating on and financial risk profile for Mitsubishi Corp. This bond issuance should help further diversify Mitsubishi Corp.'s funding sources by attracting more non-Japanese investors at a time when the company is strengthening its earnings base through a wide

...July 8, 2021 TOKYO (S&P Global Ratings) July 9, 2021--S&P Global Ratings today said it has assigned its 'A' long-term issue credit rating to Mitsubishi Corp.'s (A/Stable/A-1) proposed U.S. dollar-denominated senior unsecured bonds (see ratings list below). We equalize the issue credit rating on the bonds with our long-term issuer credit rating on the Japan-based general trading and investment company. This is because we see a limited possibility that any lenders might be significantly disadvantaged relative to other lenders, given our current issuer credit rating on and financial risk profile for Mitsubishi Corp. This bond issuance should help further diversify Mitsubishi Corp.'s funding sources by attracting more non-Japanese investors at a time when the company is strengthening its earnings base through a wide range of business lines globally. Mitsubishi Corp.'s capital adequacy should improve in the coming one to two years. We expect adjusted capital to recover and exceed 100% of risk-based...

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