MHBKMizuho Bank Ltd. (Japan)
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There is no rating upside as the senior unsecured notes of MHBK and SMBC Bangkok Branch are already at the highest level on the Thailand National Rating scale.
MHBK signed a Memorandum of Understanding (MOU) for business cooperation in July 2014 with the People's Committee of Ba Ria-Vung Tau Province, with which it has since been cooperating in support of Japanese companies considering expanding their business in the region.
MHBK's baa1 BCA reflects our overall assessment of the bank's: (1) strong
"As a bank with a reputation for strength in the Greater Mekong subregion, MHBK will use this memorandum of understanding to provide high-quality financial services to meet the diverse needs of our customers."
For additional information on MHBK and SMBC, see our latest rating action commentary, Fitch Affirms Ratings on Japanese Major Banks, dated 18 December 2017.
The bank's Aa3 debt rating factors in its D+ bank financial strength rating (BFSR), mapping to a baseline credit assessment of Baa3, the Aaa systemic support input for Japan bank ratings, the "very high" systemic backup likelihood for the combined banking operations of MHBK, Mizuho Corporate Bank Ltd and Mizuho Trust and Banking Company Ltd, due to the group's significance to the local finance industry, the supported group's GLC deposit rating of Aa3 and the "fully supported" group support probability factor for MHBK, Moody's said.
The A1 ratings of MHBK incorporate a three-notch uplift from the bank's
MHBK, as a partner member of GIF, will contribute to the development of infrastructure projects in emerging markets and developing economies through its involvement in early stages of the project life cycle and discussions related to the design and use of risk instruments by utilizing our broad range of experience in project finance.
The A1 rating of MHBK incorporates a three-notch uplift from the bank's
Mizuho Bank, Ltd., acting as a Mandated Lead Arranger, has successfully arranged project finance loans totaling US$129 million including MHBK portion of US$39 million to build and operate a solar photovoltaic project in Jordan (the a Projecta ).
The A1 rating of MHBK incorporates: (1) MHBK's C- standalone bank