New York, July 19 (FinanceEnquiry.com) – Analysts at Moody’s Investors Service has assigned an A1 rating to JPY denominated senior unsecured debt ratings by Mizuho Corporate Bank Ltd (MHCB). The outlook on the rating stood stable.
In a research note published today, the analysts state that the A1 rating of MHCB includes the bank’s C-standalone bank financial strength rating (BFSR), mapping to baa1 on the long term scale, the Aa2 systemic support input for Japan bank ratings, which was one notch above Japan’s local currency government debt rating of Aa3, very high systemic support profitability for the combined banking operations of MHCB, Mizuho Bank Ltd and Mizuho Trust and Banking Co Ltd due to group’s importance to Japan’s financial system.
The C-standalone BFSR indicates Moody’s overall assessment of MHCB’s solid wholesale/investment banking franchise in Japan, its very high intrinsic risk positioning relative to earnings and capital and its recovering, though modest financial fundamentals. The bank has its headquarter in Tokyo and is one of the major banks in Japan and also a major operating bank of Mizuho Financial Group Inc, the analysts say.
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