DBRS changes Bank of Tokyo-Mitsubishi view

DBRS said it confirmed the ratings of Bank of Tokyo-Mitsubishi UFJ, Ltd., including its long-term issuer rating of A and the short-term issuer rating at R-1 (low).

The agency said the trend was changed to positive from stable, following the change in the trend on the A sovereign rating of Japan to positive from stable on Jan. 26.

Concurrently, DBRS maintained the bank’s intrinsic assessment at A.

The agency said the support designation remains SA2, indicating an expectation of timely systemic support in case of need, which leads to the incorporation of a notch of systemic uplift to the bank’s debt ratings if the sovereign rating were to be upgraded.

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