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Standard & Poor’s Corp. has raised its long-term rating on the convertible bonds of the new Mizuho Trust & Banking Co. to triple-B from triple-B-minus.

“The rating action follows the completion (Wednesday) of the consolidation of the former Mizuho Trust with Mizuho Asset Trust & Banking (Mizuho Asset) to form the new trust bank,” the U.S. rating agency said.

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