TOKYO (Standard&Poor's) July 14, 2008--Standard&Poor's Ratings Services said today it had assigned its 'BBB+' long-term issue rating to the noncumulative preferred securities issued by SMFG Preferred Capital USD 3 Ltd. ($1,350 million with a coupon rate of 9.50%) and SMFG Preferred Capital GBP 2 Ltd. (£250 million with a coupon rate of 10.231%). Both entities are overseas special-purpose companies wholly owned by Sumitomo Mitsui Financial Group Inc. (SMFG; A/Stable/A-1). The rating on the preferred securities is two notches lower than the long-term counterparty rating on SMFG, reflecting the deferability of dividend payments, as well as the overall financial strength of SMFG. SMFG's distributable amounts under Japan's Corporate Law as of March 31, 2008, are adequate relative
