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Moody's: Development Bank of Japan bond Aa3
Moody's Japan K.K. has assigned its Aa3 rating to the Development Bank of Japan Inc.'s ¥20 billion series 40 senior unsecured bond due 2021.
This is a domestic yen bond issuance, which does not carry the government guarantee.
The outlook is stable.
This is a takedown from the bank's ¥800 billion domestic shelf registration (effective Aug. 28, 2012), which is rated provisional Aa3.
In accordance with Moody's Government-Related Issuers rating methodology, the Aa3 ratings reflect the combination of the following inputs; (a) Baseline credit assessment of a3; (b) Japan's domestic currency bond rating of Aa3; (c) "very high" default dependence with the Government of Japan; and (d) "very high" support probability by the government.
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