Moody's rates Bank of Tokyo-Mitsubishi TCDs A3

Moody's Japan K.K. said it assigned its Aa3 ratings to the A$500 million transferable certificates of deposits (TCDs) due 2018 issued by Bank of Tokyo-Mitsubishi UFJ, Ltd. Sydney Branch under its TCD program.

The outlook is stable.

The TCDs are takedowns from the bank's A$3 billion transferable certificates of deposit program, which is rated provisional Aa3/provisional Prime-1.

Moody's said the Aa3 ratings incorporate 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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