The Asian Banker
中文
LoginSubscribe

Moody's announces review for upgrade Citibank Japan's ratings
Aug 29, 2013

Tokyo, August 26th 2013 - Moody's Japan K.K. (MJKK) announced today that it placed on review for upgrade its long-term bank deposit rating of Baa1 and bank financial strength rating (BFSR) of D+, which maps to a baseline credit assessment of baa3. Its short-term deposit rating of Prime-2 is not affected by this review.

These actions follow Moody's Investors Service's (MIS) decision to put the ratings on Citibank N.A. to review for upgrade. For further details on this action, please refer to the press release, "Moody's reviews US bank holding company ratings to consider reduced government support".

RATINGS RATIONALE

Citibank Japan's standalone credit assessment has been strongly aligned with that of its parent, Citibank N.A., due to their close integration. Therefore, any changes in its parent's ratings will be reflected in the ratings of Citibank Japan.

As Citibank Japan is a strategically important subsidiary of Citibank N.A., MJKK also incorporates a very high probability of support for the bank from its parent, in case of need.

The review will also examine whether the separate standalone credit assessment is feasible for Citibank Japan in view of its localization, and its status as a locally incorporated subsidiary in Japan.

The principal methodology used in these ratings was Global Banks published in May 2013. Please see the Credit Policy page on www.moodys.com for a copy of this methodology.

Citibank Japan Ltd, headquartered in Tokyo, is Citibank N.A.'s wholly-owned subsidiary.

 

Re-disseminated by The Asian Banker

Categories: Results & Ratings
Keywords: Moody's



Sponsors
Social
Linkedin Twitter facebook
The Asian Banker app is now available for your smartphone
Show Less
About us | Jobs and Internships with us | Contact us | Advertise with Us | | Privacy Policy | Copyrights Requests | Legal Notice | Feedback
RSS FeedRSS Feed | Follow us on Linkedin Twitter Facebook
Copyright 2014, The Asian Banker. All Rights Reserved .