Ratings On Eight Japanese Banks Affirmed Under Revised Criteria

We have reviewed our ratings on eight Japanese banks and two subsidiaries of one of them under our revised criteria. We have affirmed the ratings on these entities, and the outlooks are all unchanged. TOKYO (S&P Global Ratings) Jan. 18, 2022--S&P Global Ratings today said that it has affirmed its issuer credit and issue ratings on eight Japanese banks. In addition, we affirmed our ratings on two subsidiaries of one of them. The affirmations follow a revision to our criteria for rating banks and nonbank financial institutions and for determining a Banking Industry Country Risk Assessment (BICRA; see "Financial Institutions Rating Methodology," published Dec. 9, 2021, and "Banking Industry Country Risk Assessment Methodology And Assumptions," published Dec. 9, 2021). The

...January 17, 2022 - We have reviewed our ratings on eight Japanese banks and two subsidiaries of one of them under our revised criteria. - We have affirmed the ratings on these entities, and the outlooks are all unchanged. TOKYO (S&P Global Ratings) Jan. 18, 2022--S&P Global Ratings today said that it has affirmed its issuer credit and issue ratings on eight Japanese banks. In addition, we affirmed our ratings on two subsidiaries of one of them. The affirmations follow a revision to our criteria for rating banks and nonbank financial institutions and for determining a Banking Industry Country Risk Assessment (BICRA; see "Financial Institutions Rating Methodology," published Dec. 9, 2021, and "Banking Industry Country Risk Assessment Methodology And Assumptions," published Dec. 9, 2021). The banks subject to affirmations are led by: - Aozora Bank Ltd. (###+/Negative/A-2) - Development Bank of Japan Inc. (A/Stable/A-1) - Japan Post Bank Co. Ltd. (A/Stable/A-1) - Norinchukin Bank (A/Negative/A-1)...

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