Credit FAQ: How Japan's Sales Tax Hike Could Affect Our Ratings On Local And Regional Governments Nov 12
- Language: English
- Published: November 2012
- Region: Japan
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 from the Eastern area of Japan after the Great East Japan Earthquake of March 11, 2011, and the ensuing nuclear crisis. Osaka implemented public investments in the 1990s and also has fee-based activities, which...
Companies mentioned in this report are: Osaka (City of)
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Osaka (City of)