Moody's rates Sumitomo Mitsui certificate Aa3

Moody's Japan K.K. said it assigned Aa3 rating to Sumitomo Mitsui Banking Corp.'s $250 million certificate of deposit due April 29, 2016.

The outlook is stable.

Moody's said the Aa3 rating incorporates a three-notch uplift from the bank's baseline credit assessment of a3, due to the 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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