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Affirmed A-/Stable and J-1 on JA Mitsui Leasing | Oct 29, 2009 |
Issuer: JA Mitsui Leasing, Ltd.
JCR has affirmed the A-/Stable and the J-1 rating on senior debts and CP program of the issuer, respectively.
Senior debts: A-/Stable
CP: J-1
Maximum: Y250 billion
Backup Line: 0%
<Rationale>
JA Mitsui Leasing, Ltd. is a major leasing company and is an affiliated company of the JA group and Mitsui & Co., Ltd. The Company is an equity method affiliate of The Norinchukin Bank and Mitsui & Co., Ltd. Its relationship with both parent group companies is close in terms of sales and marketing, human resources and funding, and its recent raising of 60 billion yen capital through the third-party allocation of new shares to The Norinchukin Bank and Mitsui & Co., Ltd equally. The ratings on the Company reflect probable support from the parent group companies. Our "Stable" outlook reflects such support, despite its weak financial performance under tough business environments including deteriorating business conditions and lower capital investments.
JCR has affirmed the A-/Stable and the J-1 rating on senior debts and CP program of the issuer, respectively.
Senior debts: A-/Stable
CP: J-1
Maximum: Y250 billion
Backup Line: 0%
<Rationale>
JA Mitsui Leasing, Ltd. is a major leasing company and is an affiliated company of the JA group and Mitsui & Co., Ltd. The Company is an equity method affiliate of The Norinchukin Bank and Mitsui & Co., Ltd. Its relationship with both parent group companies is close in terms of sales and marketing, human resources and funding, and its recent raising of 60 billion yen capital through the third-party allocation of new shares to The Norinchukin Bank and Mitsui & Co., Ltd equally. The ratings on the Company reflect probable support from the parent group companies. Our "Stable" outlook reflects such support, despite its weak financial performance under tough business environments including deteriorating business conditions and lower capital investments.
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