trending Market Intelligence /marketintelligence/en/news-insights/trending/9thzy_5kpwagnyytkorxdg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Moody's further downgrades Suruga Bank

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory


Moody's further downgrades Suruga Bank

Moody's has again downgraded Suruga Bank Ltd., with various ratings to remain on review for another downgrade, on the back of a real estate investment lending case.

The rating agency on Oct. 4 lowered the bank's long- and short-term bank deposit ratings to Ba2 and Not Prime, respectively, from Baa1 and P-2. The lender's baseline and adjusted baseline credit assessments are now at "ba3" from "baa3."

Meanwhile, the long- and short-term counterparty risk assessments were downgraded to Ba1(cr) and Not Prime(cr), respectively, from A3(cr) and P-2(cr).

Suruga Bank's long-term bank deposit rating, long-term counterparty risk assessment, and baseline and adjusted baseline credit assessments will continue to be under review for further downgrade.

The downgrades mirror the risk of further material credit costs and increased provisioning after an independent review showed that the real estate portfolio affected by widespread lending breaches and falsification of documents was larger than previously reported. The downgrades also reflect a deterioration in the lender's liquidity.

In addition, Moody's lowered the government support assumption to moderate from high, given that the issues faced by the lender are limited to itself and may not have material implications for the broader Japanese banking system.

Moody's added that the continuing review for further downgrade will center on the quality of Suruga Bank's loan portfolio and the impact on profitability, as well as its liquidity and funding positions.