S&P rates JBIC bonds AA-

Standard & Poor’s said it assigned an AA- senior secured long-term issue rating to Japan Bank for International Cooperation’s (JBIC) ¥10 billion 0.120% series 1 bonds due Dec. 20, 2019.

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

JBIC’s critical role reflects its public policy mandate to extend financing to maintain the international competitiveness of Japanese industries, develop natural resources and serve international finance operations that contribute to the development of the Japanese and international economy, the agency said.

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