S&P lowers Shizuoka Bank

S&P said it lowered one notch to A from A+ its long-term issuer credit rating on Shizuoka Bank Ltd. and has affirmed its A-1 short-term rating on the company.

The outlook on the long-term issuer credit rating is stable.

“The downgrade reflects our view that Shizuoka Bank's expansion of its business has increased its exposures to different risk profile assets we consider higher risk than conventional loans together with the possibility of higher volatility in its revenues as it has grown its business portfolio in pursuit of business diversify to improve its profitability,” S&P said in a news release.

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