S&P turns Hitachi Capital view to negative

S&P said it revised Hitachi Capital (U.K.) plc’s outlook to negative from stable but affirmed its A- ratings.

The revision follows the company’s parent Hitachi Capital Corp. being merged with Mitsubishi UFJ Lease & Finance Co. Ltd. (MUL), creating Mitsubishi HC Capital Inc., the agency said.

“The ratings reflect our view that HCUK remains a core subsidiary of Mitsubishi HC Capital Inc. (MHCC), while also acknowledging the increased potential scope for MHCC to change HCUK's position with respect to strategic relevance to the larger parent post-merger via the negative outlook,” S&P said in a press release.

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