Report title: Japan International Cooperation Agency Rated 'AA/A-1+' With Stable Outlook
from S&P Credit Research
744 word report published Sep 30, 2008

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Abstract: TOKYO (Standard&Poor's) Oct. 1, 2008--Standard&Poor's Ratings Services today assigned its 'AA' long-term rating and 'A-1+' short-term ratings to Japan International Cooperation Agency (JICA). The outlook is stable. "The ratings on Japan International Cooperation Agency (JICA) are based on its public policy role as the primary governmental institution that extends financial and non-financial facilities to promote and support the government of Japan's (AA/Stable/A-1+) external policy objectives," said Standard&Poor's credit analyst Takahira Ogawa. "The agency is an integral part of the government's overall mechanism for advancing Japan's relations with other countries by providing assistance to developing nations." The ratings also incorporate the support that JICA receives from the government, including capital contributions, low-cost funding from the

Brief Excerpt: RESEARCH Ratings Definitions Japan International Cooperation Agency Rated '##/A-1+' With Stable Outlook Publication date: 30-Sep-2008 Primary Credit Analyst: Takahira Ogawa, Singapore (65) 6239-6342; takahira_ogawa@standardandpoors.com...

Report Type: Ratings Action
Issuer: Japan International Cooperation Agency
Sector: Asset-Backed Securities, Collateralized Debt Obligations, Corporations, Global Issuers, International Public Finance, Sovereigns, Structured Finance, Utilities
Country: Japan
Region: Asia
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