Moody's rates Softbank bond Ba2

Moody's Investors Service said it assigned a Ba2 rating to Softbank Corp.'s proposed €500 million bonds, due 2013.

The outlook is stable.

Softbank's Ba2 rating reflects its strong brand recognition in the Japanese broadband market - as evidenced by its competitive position in ADSL and IP telephony - and its position as one of the leading fixed-line telecom operators and third-largest mobile telecommunication operator in Japan.

Moody's said the rating also incorporates the highly competitive telecom operating environment in Japan and the company's relatively weak operating performance and high financial leverage compared to its peers.

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