S&P rates Mitsubishi loan A-

Standard & Poor’s said it assigned an A- rating to the proposed unsecured subordinated hybrid loan of Mitsubishi Corp.

The agency said the rating on the loan was notched down from the company’s A+ long-term corporate credit rating.

The two-notch differential reflects a one-notch deduction for the subordination of the loan and one additional notch for the issuer’s option to defer interest payment, S&P said.

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