Moody’s assigns A3 to Mitsui

Moody’s Investors Service said it assigned an A3 long-term issuer rating to Mitsui & Co., Ltd. and affirmed its A3 senior unsecured and Baa2 subordinate ratings.

“Mitsui's A3 issuer rating incorporates the company's strong operating franchise as the second-largest Japanese trading company (JTC) in terms of assets, diversified business portfolio, ample cash on hand and strong funding access.

“At the same time, Mitsui's rating is constrained by its high exposure to the volatile mineral and metal resources and energy segments, and the fundamental business risks inherent to JTCs, with long-term, illiquid business investments financed by significant amounts of debt,” Moody’s said in a press release.

The outlook remains stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.