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RETAIL FUNDS | Cesar Tordesillas, Japan
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Moody's gives stable ratings to Sumitomo's domestic shelf registration

Moody's assigned (P)Aa3/(P)A1 ratings to the JPY500 billion domestic shelf registration programme of
The Sumitomo Trust and Banking Co., Ltd. The rating outlook is stable.

 

Under this domestic shelf registration, STBC can issue senior unsecured debt, senior subordinated debt, and junior subordinated debt.

STBC's long-term global local currency deposit rating is Aa3, and is derived from its C BFSR, the Aaa systemic support input for Japan bank ratings, and Moody's assessment that the systemic support probability for STBC is "very high," based on STBC's importance as one of the major banks in Japan's trust banking market.

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