S&P: Sumitomo Mitsui bonds A+

Standard & Poor's said it assigned an A+ rating to Sumitomo Mitsui Trust Bank Ltd.'s dollar-denominated straight bonds.

The $650 million senior unsecured bonds due March 28, 2018 have a coupon rate of 1.80%.

The ratings reflect the bank's strong business position, moderate capital and earnings, strong risk position, average funding, strong liquidity and high likelihood of government support in times of need, S&P said.

Sumitomo Mitsui Trust Group maintains a strong competitive position in the markets in which it operates, the agency said.

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