S&P rates Japan Bank

Standard & Poor's said it assigned its AA- long-term and A-1+ short-term issuer credit ratings to Japan Bank for International Cooperation. The outlook on the long-term rating is negative.

According to S&P, the bank was established as a stand-alone entity on April 1, when it succeeded the international finance operations of Japan Finance Corp. The agency said it affirmed at AA- the ratings on the 38 rated bonds that the bank succeeded from Japan Finance Corp.

The ratings on the bank are equalized with those on Japan, S&P said, based on the agency's view that the bank has an almost certain likelihood of receiving extraordinary government support in a time of need.

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