Fitch upgrades long-term IDRs & individual ratings of MUFG banks
Fitch Ratings has upgraded the Long-term foreign and local currency Issuer Default Ratings (IDRs) and Individual ratings of Mitsubishi UFJ Financial Group’s (MUFG) operating banks - Bank of Tokyo-Mitsubishi UFJ (BTMU) and Mitsubishi UFJ Trust and Banking Corporation (MUTB).
At the same time, the agency upgraded the subordinated debt rating of BTMU, as well as affirmed the rest of the ratings of both banks. Fitch also upgraded the rating on the preferred securities issued by MUFG’s funding vehicles, MUFG Capital Finance 4 Limited and MUFG Capital Finance 5 Limited, in January 2007 to ‘A’ from ‘A-’ (A-minus).
The ratings of both banks are stated below: — www.theasianbanker.com (August 29 2007)–