Komatsu's syndicated loan gets A3 rating from Moody's

Moody''s assigns, for the first time, a syndicated bank loan rating for a Japanese borrower in anticipation of an upsurge in syndicated loan activity in the Japanese market.

Moody's Investors Service has assigned its first senior unsecured bank loan rating of A3 to a $450 million multi-borrower, multi-tranche syndicated loan facility for Japanese construction and mining equipment giant, Komatsu. Co-arrangers, Citibank and Sumitomo Bank, closed syndication on Wednesday, but no details as to a final list of participants or the pricing of the deal, are available yet. Citibank was the bookrunner.

Moody's expect that the rating will be the first of many...

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