Fitch Ratings has given an F1 short-term rating to Mizuho Markets Cayman's $300 million senior guaranteed notes, according to a Tuesday release.

Mizuho Financial Group's (TYO:8411) banking arm, Mizuho Bank, guarantees the $10 billion medium-term note program in which the notes are issued.

The notes' rating is similar to Mizuho Bank's short-term issuer default rating, given that the bank guarantees the related payments on the notes.

Changes in the bank's rating would trigger similar actions on the notes, Fitch said.

Price (JPY): $3381.00, Change: $+58, Percent Change: +1.75%