S&P: JPMorgan Japan now stable
That reflects the upward revision of the outlook on the long-term ratings on the U.S.-based JPMorgan Chase & Co. (JPM), which is JPMorgan Securities Japan's parent company, as well as its banking subsidiaries, said S&P in its release. At the same time, Standard & Poor's affirmed the long-term counterparty rating on JPMorgan Securities Japan at 'A+' and the short-term counterparty rating at 'A-1'. JPMorgan Securities Japan is is indirectly and wholly owned by JPMorgan Chase & Co.
The ratings on JPMorgan Securities Japan are based on its status as a "core" subsidiary of the JPMorgan Chase group, reflecting its strong integration with the group. Under S&P group rating methodology for financial institutions, the rating on a core subsidiary is generally equalized with the group credit profile (GCP), which is Standard & Poor's opinion of a group's creditworthiness. In other words, the rating reflects the view that the core subsidiary is very likely to receive support from the rest of the group when necessary. ■