Fitch Ratings has given an A rating to Mizuho Market Cayman's $50 million senior guaranteed notes, according to a Monday release.

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

The guaranteed notes' rating is similar to the bank's long-term issuer default rating, since the latter guarantees all related payments for the notes.

Changes in the bank's rating will lead to similar actions on the notes, Fitch said.