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Aichi (Prefecture of) Jun 11
Standard & Poors, June 2011
Abstract
Robust local tax base as a key manufacturing center of the Japanese and broader regional economy Strong liquidity Supportive financial framework Decreasing financial flexibility High debt level The ratings on Aichi (Prefecture of) reflect its robust local tax base, strong liquidity, and supportive institutional framework. At the same time, the ratings are constrained by a very high level of debt and decreasing financial flexibility. Aichi occupies a central position in both the national and broader regional economy and thus enjoys strong, independent sources of revenue. The prefecture's modifiable revenue (including taxes, fees, and rates, but excluding central government transfers) is one of the strongest among Japan's local and regional governments (LRGs), and also compares strongly globally. The prefecture's heavy reliance...
Companies mentioned in this report are: Aichi (Prefecture of)
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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