S&P rates Mitsubishi Estate green bonds A+

S&P said it assigned its A+ long-term issue credit rating to Mitsubishi Estate Co. Ltd.'s (A+/stable/A-1) proposed green bonds.

The agency said it assigns the same issue rating to the bonds as the long-term issuer credit rating on the company in consideration of the current rating category for the company, and its extremely low proportion of secured debt, which has higher priority in payment than the green bonds, to total assets before depreciation and amortization.

“We believe this issuance will improve the company's financial flexibility through diversification of its investor base,” S&P said in a news release.

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