S&P rates JBIC bonds AA-

Standard & Poor’s said it assigned an AA- long-term foreign-currency rating to the $1 billion government-guaranteed 2.125% bonds due Feb. 10, 2025 issued by Japan Bank for International Cooperation (JBIC).

The rating on the bonds reflects the irrevocable and unconditional guarantee of the government of Japan, S&P said.

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, the agency said.

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

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