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Bulletin: Ratings On Japan's JFM Unaffected By Expected Decline In Reserve For Interest Rate Fluctuation Nov 08
Standard & Poors, Nov 2008
Abstract
TOKYO (Standard & Poor's) Nov. 11, 2008--Standard & Poor's Ratings Services said today that its ratings on the new Japan Finance Organization for Municipal Enterprises (JFM; AA/Stable/A-1+) would not be affected by an expected decline in the organization's reserve for interest rate fluctuations. JFM is expected to transfer -300 billion from the reserve to the Japanese government, which will use the funds to promote local and regional governments' (LRGs) public works as part of a new economic stimulus package. However, the impact of this financial contribution on the stability of JFM's lending business should be limited. Future support from the government is likely, in addition to the support it receives from the LRGs. As such, Standard & Poor's is not...
Companies mentioned in this report are: Japan Finance Organization for Municipalities
Action: Bulletin
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.
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