-JCR maintains J-2 rating on Sojitz commercial paper.
BANKING AND CREDIT NEWS-October 27, 2011--JCR maintains J-2 rating on Sojitz commercial paper(C)2011 M2 COMMUNICATIONS http://www.m2.com
27 October 2011 - JCR today affirmed its J-2 rating on the commercial paper (CP) of Japanese general trading firm Sojitz Corp (TYO:2768).
The company's senior debts are rated BBB with a "stable" outlook.
Sojitz is expected to keep its net income in fiscal year ending 31 March 2012 at the level of the prior year despite the adverse effect of the earthquake of March 2011.
The company can maintain a target net debt-to-equity ratio at end-March 2012 despite a potential increase in the net interest-bearing debt due to additional capital investments, JCR added.
The ratio of risk assets to shareholders' equity was 0.9 times at the end of March 2011, which is below its standard of 1, the agency noted.
The company has also retained its focus on risk management, the service added.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Oct 27, 2011|
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