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S&P revises Shinsei Bank outlook, affirms ratings

S&P Global Ratings revised Shinsei Bank Ltd.'s outlook to stable from positive and affirmed the bank's BBB+ long- and A-2 short-term issuer credit ratings.

The rating agency said May 31 that it revised the outlook because the Japanese lender's capital adequacy relative to its risk-weighted assets is likely to fall short of its assumptions. "This is because higher shareholder returns are likely to slow its accumulation of capital and its risk-weighted assets are on the rise," it added.

Ratings said it is affirming Shinsei Bank's ratings because the lender's efforts to improve its asset quality are bearing fruit even when there is downward pressure on its anchor for banks operating primarily in Japan. Meanwhile, the bank's accumulation of retained earnings is likely to slow as it continues to implement a more generous shareholder return policy, the agency added.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.