Fitch Ratings has placed an F1 short-term rating on Mizuho Markets Cayman's $270 million senior guaranteed notes, according to a Thursday release.
Mizuho Financial Group's (TYO:8411) banking arm, Mizuho Bank, guarantees the $10 billion medium-term program in which the notes are issued.
The senior notes will serve as the obligations of the bank and the Cayman branch.
The notes' rating matches the bank's short-term issuer default rating, since it guarantees the related payments.
Changes in the bank's rating will prompt similar actions on the notes, Fitch said.
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