Osaka (City of) Nov 11
Standard & Poors, November 2011
Abstract
Strong tax base supported by diversified economic activities, with very high level of GDP per capita Strong internal liquidity Strong institutional framework supporting local and regional governments Decreasing financial flexibility High level of debt The ratings on City of Osaka reflect its diverse industrial platform and its tax revenue potential, its strong internal liquidity, and Japan's predictable and well-balanced institutional framework. The main rating constraint is Osaka's high debt and decreasing financial flexibility. Osaka is the economic hub of western Japan and its GDP per capita is the highest among Japan's designated cities (seirei shitei toshi). The city's tax revenues are recovering from the recent economic downturn, as regional corporate activities have regained momentum partly on a movement of business...
Companies mentioned in this report are: Osaka (City 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
Osaka (City of)
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