Mitsubishi UFJ Trust downgraded 08 December 2010Tokyo Reporter: Ben Wilkie
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Mitsubishi UFJ Trust (MUTI) has seen its long term issuer rating downgraded by Moody's from Aa2 to Aa3 in a move that will restrict its securities lending activities.
MUTI was warned in March that its rating may be downgraded as part of Moody's reevaluation of the financial subsidiaries of Japanese banks.
The new rating reflects both the company's standalone financial strength and the relationship between it and its parent, Mitsubishi UFJ Trust and Banking Corporation, which also part-owns MUTI's custodian bank.
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