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Japan Finance Organization for Municipalities ¥20 Billion Domestic Bonds Rated 'AA' Dec 10 Product Image

Japan Finance Organization for Municipalities ¥20 Billion Domestic Bonds Rated 'AA' Dec 10

  • Published: December 2010
  • Region: Japan
  • Standard & Poors

Abstract
TOKYO (Standard & Poor's) Dec. 2, 2010--Standard & Poor's Ratings Services today assigned its 'AA' debt rating to Japan Finance Organization for Municipalities' (JFM) (AA/Negative/A-1+) series 12 ¥20 billion 20-year domestic senior secured bonds. The bonds are due on Dec. 27, 2030. The coupon rate is 2.092%. The ratings on JFM reflect the organization's key policy role and its very strong link with the central government in Japan's local and regional government (LRG) sector. Standard & Poor's believes there is a "very high" likelihood of extraordinary support from the government of Japan (AA/Negative/A-1+) in the event of financial distress. JFM's stand-alone credit profile (SACP, which excludes potential extraordinary government support) is assessed as 'A+'. Its loan asset quality is very...

Companies mentioned in this report are:
- Japan Finance Organization for Municipalities

Action: New Rating

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- Japan Finance Organization for Municipalities

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