Sony Bank Obtains Credit Ratings from JCR
October 14, 2008
Sony Bank Inc., a wholly-owned subsidiary of Sony Financial Holdings, today announced its receipt of an AA- long-term senior debt rating from Japan Credit Rating Agency, Ltd. ("JCR") on October 14, 2008.
The purpose of obtaining credit ratings at this time is to prepare for further growth by establishing a structure whereby Sony Bank can respond expeditiously to financing needs as they arise. Sony Bank believes that obtaining objective evaluations from multiple rating agencies also will serve as valuable barometers when individual customers evaluate Sony Bank's creditability.
Going forward, Sony Bank, as a member of the Sony Financial Holdings Group, will continue to work toward transparent and easy-to-understand management.
Outline of Newly Obtained Credit Ratings
| Credit Ratings | JCR long-term senior debt rating (Outlook: Stable) |
AA- |
|---|---|---|
| Acquisition Date | October 14, 2008 | |
Reference: Credit Ratings of Sony Bank (As of October 14, 2008)
| Ratings Agency | Credit Ratings | |
|---|---|---|
| Standard & Poor's (S&P) | Long-term credit rating (Outlook: Positive) |
A- |
| Short-term credit rating | A-2 | |
| JCR (Newly obtained) | Long-term senior debt rating (Outlook: Stable) |
AA- |
Note: This is an English-language summary of a Japanese announcement made by Sony Bank on October 14, 2008. The summary was prepared by Sony Financial Holdings Inc. solely for the convenience of non-Japanese readers.
