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Japan Finance Organization for Municipalities ¥20 Billion Domestic Bonds Rated 'AA-' Oct 11

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Abstract
TOKYO (Standard & Poor's) Oct. 12, 2011--Standard & Poor's Ratings Services today assigned its 'AA-' debt rating to Japan Finance Organization for Municipalities' (JFM; AA-/Negative/A-1+) series 18 ¥20 billion 20-year domestic senior secured bonds. The bonds are due Oct. 28, 2031. The coupon rate is 1.781%. The ratings on JFM reflect the organization's key policy role and its very strong link with the central government of Japan's (AA-/Negative/A-1+) local and regional government (LRG) sector. Standard & Poor's believes there is a "very high" likelihood of extraordinary support from the government of Japan in the event of financial distress. We assess JFM's stand-alone credit profile (SACP, which excludes potential extraordinary government support) to be 'a+'. Its loan asset quality is very...

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

Action: New Rating

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Companies Mentioned

- Japan Finance Organization for Municipalities

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Japan Finance Organization for Municipalities ¥20 Billion Domestic Bonds Rated 'AA-' Oct 11

Fax order form

Order information

Product name

Web Address

Office Code

Report Formats

Contact information

Please fax this form to: (646) 607-1907 or (646) 964-6609 (from USA) +353-1-481-1716 or +353-1-653-1571 (from Rest of World)

Payment information

Please fax this form to: (646) 607-1907 or (646) 964-6609 (from USA) +353-1-481-1716 or +353-1-653-1571 (from Rest of World)

Please fax this form to:
(646) 607-1907 or (646) 964-6609 (from USA)
+353-1-481-1716 or +353-1-653-1571 (from Rest of World)

Please fax this form to:
(646) 607-1907 or (646) 964-6609 (from USA)
+353-1-481-1716 or +353-1-653-1571 (from Rest of World)