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Bank of Tokyo-Mitsubishi among Japan Banks cut by Moody’s - Bloomberg

02.12.2014 14:57

Bank of Tokyo-Mitsubishi among Japan Banks cut by Moody’s - Bloomberg

YEREVAN, December 2. /ARKA/. Mitsubishi UFJ Financial Group Inc. (8306) units were among five Japanese lenders downgraded by Moody’s Investors Service today after it cut the nation’s credit rating.

Bank of Tokyo-Mitsubishi UFJ Ltd. and Mitsubishi UFJ Trust and Banking Corp., part of Japan’s biggest banking group, were lowered one level to A1 with a stable outlook, Moody’s said in a statement. Sumitomo Mitsui Banking Corp. (8316), Shizuoka Bank Ltd. and Chugoku Bank Ltd. also had their long-term debt ratings cut.

Moody’s yesterday lowered Japan’s rating to A1, the fifth-highest grade, citing uncertainty over whether Prime Minister Shinzo Abe’s administration will achieve its deficit-reduction goals and succeed in boosting growth. Investors will be watching whether Standard & Poor’s follows suit, said credit analyst Yusuke Ueda.

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