This report supplements our media release "Tokyo Metropolitan Government 'A+' Rating Affirmed; Outlook Remains Positive," published on Aug. 1, 2019. To provide the most current information, we may cite more recent data than that stated in the previous publication. These differences have been determined not to be sufficiently significant to affect the rating and our main conclusions. The positive outlook on Tokyo Metropolitan Government (TMG) reflects that on our long-term sovereign credit rating on Japan (unsolicited rating A+/Positive/A-1). We assess the stand-alone credit profile (SACP) for TMG as 'aa+' and regard the SACP as stable. TMG does not rely on the central government's vertical fiscal adjustment system, but it is not immune to the overall impact of deteriorating economic conditions