Fitch revises Japanese banks to stable

Fitch Ratings said it revised the outlooks for Mitsubishi UFJ Financial Group, Inc. and its subsidiaries, Sumitomo Mitsui Financial Group, Inc. and its subsidiaries, and Mizuho Financial Group, Inc. and its subsidiaries to stable from negative.

All the issuer default ratings of these banking groups were affirmed.

In addition, the agency affirmed the issuer default ratings on Sumitomo Mitsui Trust Bank, Ltd. and its subsidiaries; their outlooks remain stable.

Furthermore, Fitch said it upgraded the viability rating on Mizuho Financial Group and its subsidiary banks, Mizuho Bank, Ltd. and Mizuho Trust and Banking Co., Ltd., to a- from bbb+

Fitch said the outlook revisions follow the April 27 affirmation of Japan's sovereign rating at A and revision of the outlook to stable from negative. Mizuho Financial Group’s outlook revision also reflects the upgrade of its viability rating.

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