TOKYO (Standard&Poor's) Dec. 14, 2006--Standard&Poor's Ratings Services today assigned its 'A-' long-term counterparty and 'A-2' short-term credit ratings to Sumitomo Mitsui Financial Group Inc. (SMFG), the holding company of Sumitomo Mitsui Banking Corp. (SMBC; A/Positive/A-1) and other group companies. The outlook on the long-term rating is positive. At the same time, Standard&Poor's assigned its 'BBB' long-term issue ratings to the noncumulative preferred securities issued by SMFG Preferred Capital USD 1 Ltd. (U.S. dollar denominated; $1,650 million) and SMFG Preferred Capital GBP 1 Ltd. (British pound denominated; GBP 500 million), both overseas special purpose companies wholly owned by SMFG. The rating on SMFG is based on the holding company's sound financial profile as well the
