Fitch rates Mizuho notes A-

Fitch Ratings said it rated Mizuho Financial Group’s £500 million of five-year senior unsecured notes A-. The notes will count towards Mizuho’s total loss-absorbing capacity.

“The rating on the notes is aligned with Mizuho's long-term issuer default rating (IDR), despite the notes' structural subordination features. Fitch aligns Mizuho's holding-company senior debt ratings and IDRs with the IDRs of its operating companies. This reflects Fitch's view of consolidated supervision and that the holding company's failure and senior-level default risk are similar to that of the wholly owned operating banks, with all entities being eligible for pre-emptive state support,” the agency said in a press release.

The outlook is stable.

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