Bulletin: No Immediate Impact On Ratings On Tokyo Metropolitan Government From Governor's Resignation

TOKYO (S&P Global Ratings) June 16, 2016--S&P Global Ratings today said that Tokyo Governor Yoichi Masuzoe's resignation would not immediately affect its ratings on Tokyo Metropolitan Government (TMG; A+/Stable/--). This is because we do not expect the resignation to immediately change our view of TMG's financial management. Gov. Masuzoe submitted his resignation yesterday with an effective date of June 21. We've held the view that the discipline engrained in the TMG treasury team's financial management has been sufficient to keep it on a track of disciplined financial management throughout the abrupt changes in governorship that have occurred in recent years. We maintain this view amid this most recently expected change in governorship. Gov. Masuzoe's predecessor, Naoki Inose, resigned at the

...TOKYO (S&P Global Ratings) June 16, 2016--S&P Global Ratings today said that Tokyo Governor Yoichi Masuzoe's resignation would not immediately affect its ratings on Tokyo Metropolitan Government (TMG; A+/Stable/--). This is because we do not expect the resignation to immediately change our view of TMG's financial management. Gov. Masuzoe submitted his resignation yesterday with an effective date of June 21. We've held the view that the discipline engrained in the TMG treasury team's financial management has been sufficient to keep it on a track of disciplined financial management throughout the abrupt changes in governorship that have occurred in recent years. We maintain this view amid this most recently expected change in governorship. Gov. Masuzoe's predecessor, Naoki Inose, resigned at the end of 2013, having taken office following predecessor Shintaro Ishihara's resignation in October 2012. Nevertheless, frequent changes in governorship, with three occurring in less than four years,...

Bulletin