Moody's may up Resona, Saitama Resona and Kinki Osaka banks

Moody's Investors Service said it placed under review for possible upgrade the D+ bank financial strength ratings of Resona Bank, Ltd., the D bank financial strength rating of Saitama Resona Bank, Ltd., and the D bank financial strength rating of the Kinki Osaka Bank, Ltd.

The other ratings of these three related banks -- including their A1/prime-1 long-term/short-term deposit ratings are unaffected.

The A2 junior subordinated debt and Baa1 preferred stock ratings of Resona Bank, Ltd., Saitama Resona Bank, Ltd. and related entities have been on review for possible downgrade since November, the agency said.

The reviews follow news of Moody's revision for bank hybrid securities and subordinated debt.

The reviews have been prompted by the analytical need to reassess the resiliency of the capital structure of the Resona Group, which includes these three banks, with its large amount of preferred stock owned by the government, the agency said.

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