Business Services Industry
Moody's may upgrade Daiwa Securities ratings.
Knight Ridder/Tribune Business News, August, 2004
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Aug. 26--TOKYO -- Moody's Investors Service said Thursday it is reviewing its Baa1 issuer rating, Baa1 senior unsecured rating and Prime-2 short-term rating on Daiwa Securities SMBC Co. for possible upgrading.
The move followed the U.S. credit-rating agency's late July decision to place the ratings of Sumitomo Mitsui Banking Corp. under review for possible upgrade.
Daiwa Securities SMBC is 40 percent owned by Sumitomo Mitsui Financial Group Inc. and 60 percent by Daiwa Securities Group Inc.
"Moody's considers Daiwa Securities SMBC to be of strategic importance to Sumitomo Mitsui Banking Corp., given its role as an integrated operational arm servicing the...
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