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Affirmed AA-/Stable and J-1+ on Japan Securities Finance | Jul 30, 2010 |
JCR has affirmed the AA-/Stable and the J-1+ rating on senior debts and CP program of the issuer, respectively.
Issuer: Japan Securities Finance Co., Ltd. (8511)
Senior debts: AA-/Stable
CP: J-1+
Maximum: Y1,000 billion
Backup Line: 0%
<Rationale>
Japan Securities Finance (JSF) is the largest securities finance company among Japan's three securities finance companies. It is the only company, which can engage in stock lending and lending transactions with securities companies at Tokyo Stock Exchange. Its group is engaged in trust services, information processing services and stock transfer agent services in addition to the securities financing business as its core business. The ratings on JSF reflect its position at Tokyo Stock Exchange, stable transaction base, and good financial structure. The rating outlook is stable. JCR considers that realization of synergies by strengthening group management will be an issue for JSF.
Issuer: Japan Securities Finance Co., Ltd. (8511)
Senior debts: AA-/Stable
CP: J-1+
Maximum: Y1,000 billion
Backup Line: 0%
<Rationale>
Japan Securities Finance (JSF) is the largest securities finance company among Japan's three securities finance companies. It is the only company, which can engage in stock lending and lending transactions with securities companies at Tokyo Stock Exchange. Its group is engaged in trust services, information processing services and stock transfer agent services in addition to the securities financing business as its core business. The ratings on JSF reflect its position at Tokyo Stock Exchange, stable transaction base, and good financial structure. The rating outlook is stable. JCR considers that realization of synergies by strengthening group management will be an issue for JSF.
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