SINGAPORE (Standard & Poor's) June 10, 2008--Standard & Poor's Ratings Services today affirmed its credit ratings on four Japanese public institutions following the affirmation of the ratings on Japan at AA/Stable/A-1+. The outlook on all the ratings is stable (see list below). The sovereign rating on Japan was affirmed on the basis of the sovereign's improved fiscal position, which could withstand the current political stalemate (see Standard & Poor's media release "Ratings On Japan Affirmed At 'AA/A-1+', On Improved Fiscal Position," published today). The operations of the Japan Bank for International Cooperation and the Japan Finance Corporation for Public Enterprises will be transferred to their respective successor organizations, all of which will be established later this year. Ratings Affirmed Japan...
Companies mentioned in this report are: Japan Bank for International Cooperation (Old),Japan Finance Corp. for Municipal Enterprises,Japan Housing Finance Agency,Japan Expressway Holding and Debt Repayment Agency
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