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Moody's: Sumitomo Mitsui certificate Aa3
Moody's Japan K.K. said it assigned an Aa3 rating to Sumitomo Mitsui Banking Corp.'s $250 million certificate of deposit due March 2016.
The outlook is stable.
Moody's said the Aa3 rating of Sumitomo Mitsui's certificate of deposit (foreign currency) incorporates a three-notch uplift from the bank's baseline credit assessment of a3, due to the agency's assessment of the very high probability of systemic support in times of stress, given the bank's importance to Japan's financial system.
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