Tokyo Metropolitan Government 'A+' Ratings Affirmed On Very Strong Economy And Budgetary Performance; Outlook Stable

We assess the stand-alone credit profile for TMG as 'aa', reflecting its very strong economy and budgetary performance and its exceptional liquidity. We are affirming our 'A+' long-term issuer credit ratings and our stable outlook on TMG, which reflect the ratings on Japan because we believe TMG's creditworthiness would be strongly affected under a stress scenario in which the sovereign defaults on its debt. The ratings on TMG also reflect our view of Japan's very predictable and well-balanced institutional framework for local governments, its strong financial management, strong budgetary flexibility, low contingent liabilities, and high debt burden. TOKYO (S&P Global Ratings) Aug. 26, 2016--S&P Global Ratings today said it has affirmed its 'A+' long-term foreign and local currency issuer credit

...+ We assess the stand-alone credit profile for TMG as '##', reflecting its very strong economy and budgetary performance and its exceptional liquidity. + We are affirming our 'A+' long-term issuer credit ratings and our stable outlook on TMG, which reflect the ratings on Japan because we believe TMG's creditworthiness would be strongly affected under a stress scenario in which the sovereign defaults on its debt. + The ratings on TMG also reflect our view of Japan's very predictable and well-balanced institutional framework for local governments, its strong financial management, strong budgetary flexibility, low contingent liabilities, and high debt burden. TOKYO (S&P Global Ratings) Aug. 26, 2016--S&P Global Ratings today said it has affirmed its 'A+' long-term foreign and local currency issuer credit ratings on Tokyo Metropolitan Government (TMG). The outlook on the ratings remains stable. Our ratings on TMG reflect its very strong economy, very strong budgetary performance, and exceptional...

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