Tokyo Metropolitan Government 'A+' Rating Affirmed; Outlook Remains Positive

TMG's economic and financial strength will continue to support its credit standing, in our view. We are affirming our 'A+' long-term issuer credit rating and the positive outlook on TMG. The rating and outlook reflect those on Japan because we believe a stress scenario in which the sovereign defaults on its debt would strongly affect TMG's creditworthiness. TOKYO (S&P Global Ratings) Aug. 20, 2018--S&P Global Ratings today said that it has affirmed its 'A+' long-term issuer credit rating on Tokyo Metropolitan Government (TMG). The outlook remains positive. Our rating on TMG primarily reflects its very wealthy economy. This combined with its capacity for strong and stable financial management leads us to believe TMG will continue to benefit from solid revenues

...+ TMG's economic and financial strength will continue to support its credit standing, in our view. + We are affirming our 'A+' long-term issuer credit rating and the positive outlook on TMG. + The rating and outlook reflect those on Japan because we believe a stress scenario in which the sovereign defaults on its debt would strongly affect TMG's creditworthiness. TOKYO (S&P Global Ratings) Aug. 20, 2018--S&P Global Ratings today said that it has affirmed its 'A+' long-term issuer credit rating on Tokyo Metropolitan Government (TMG). The outlook remains positive. Our rating on TMG primarily reflects its very wealthy economy. This combined with its capacity for strong and stable financial management leads us to believe TMG will continue to benefit from solid revenues and a very strong budgetary surplus that also enable it to build robust reserves and reduce outstanding debt. While we regard the institutional framework in which TMG operates as favorable for the local and regional government...

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