Moody’s rates JBIC bonds A1

Moody's Japan KK said it assigned A1 ratings to Japan Bank for International Cooperation’s $1.5 billion series 22 fixed-rate senior bonds due 2020, $500 million series 23 floating-rate senior bonds due 2020, $1.5 billion series 24 fixed-rate senior bonds due 2022 and $1.5 billion series 25 fixed-rate senior bonds due 2027. The outlook is stable.

The bonds are guaranteed by the Government of Japan.

The agency said the A1 rating reflects its view of the bank’s strong links with the government of Japan (A1/stable). Moody's concludes that the creditworthiness of the bank reflects that of the sovereign, given the integration of its mandate with the government's foreign economic policies and the high level of government oversight of its operations.

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