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Published on 9/27/2013 in the Prospect News Investment Grade Daily.

S&P rates Daiwa bonds BBB, BBB+

Standard & Poor's said it assigned its BBB program rating to the long-term senior bonds issued by Daiwa Securities Group Inc. and its BBB+ program rating to the long-term senior bonds issued by Daiwa Securities Co. Ltd. from a euro-denominated medium-term note program of up to ¥1.2 trillion, which they jointly established.

The statutory date of the rating assignment in Japan is Sept. 26, 2013.

At the same time, the agency affirmed the BBB program rating on the long-term senior bonds and the BBB- program rating on the subordinated bonds under Daiwa Securities Group's existing euro medium-term note program of up to ¥300 billion, and withdrew the program ratings upon the issuer's request.

Among the bonds issued under the euro medium-term note program of up to ¥1.2 trillion, those that the agency rated are regular senior unsecured bonds to be issued by Daiwa Securities Group and Daiwa Securities Co. Ltd.


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