Fitch Ratings Assigns 'A' Long-Term Rating to Mizuho Bank's Senior Unsecured Notes

Fitch Ratings has assigned a long-term rating of 'A' to Mizuho Bank, Ltd.'s USD100 million senior unsecured notes maturing on September 3, 2030. The rating is aligned with Mizuho Bank's Long-Term Issuer Default Rating (IDR), in line with Fitch's criteria. The notes are issued under the USD10 billion senior bank note programme guaranteed by Mizuho Bank, Ltd., New York Branch, as described in the offering circular dated April 24, 2025.

Key Takeaways:

• The note rating is aligned with Mizuho Bank's Long-Term IDR, reflecting the bank's stable financial position and strong credit profile.
• The notes are issued under the USD10 billion senior bank note programme, which provides a stable source of funding for Mizuho Bank.
• The rating is based on Fitch's criteria, which considers various factors, including the bank's creditworthiness, funding structure, and regulatory environment.
• Mizuho Bank's key rating drivers and sensitivities are outlined in Fitch's publication "Fitch Affirms MHFG at 'A-' and Mizuho Bank and Mizuho Trust & Banking at 'A'; Outlook Stable," dated October 24, 2024.
• Negative rating action on Mizuho Bank's Long-Term IDR would lead to similar action on the notes, while positive rating action would also have a similar impact.

Statistics:

• USD100 million is the principal amount of the senior unsecured notes.
• The notes have a maturity date of September 3, 2030.
• The rating is based on Fitch's criteria, which considers a range of factors, including creditworthiness, funding structure, and regulatory environment.

Sources:

• Fiscal 2025 offering circular dated April 24, 2025 (https://www.fitchratings.com/reports/rr-25-35-2025.pdf)
• Fitch Affirms MHFG at 'A-' and Mizuho Bank and Mizuho Trust & Banking at 'A'; Outlook Stable (https://www.fitchratings.com/reports/rr-24-102-2024.pdf)
• Bank Rating Criteria (pub. March 22, 2025) (https://www.fitchratings.com/reports/RR-BRC-2025.pdf)