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Moody's withdraws Kinki Osaka Bank ratings

Moody's has withdrawn the A2 long-term and Prime-1 short-term bank deposit ratings of Japan's Kinki Osaka Bank Ltd. for its own business reasons.

The rating agency said March 25 that it also withdrew the lender's "ba1" baseline credit assessment and "baa1" adjusted baseline credit assessment.

Kinki Osaka Bank is a unit of Kansai Mirai Financial Group Inc. The bank is set to merge with affiliate Kansai Urban Banking Corp. on April 1, and the merged entity will be named Kansai Mirai Bank Ltd.