...+ We assess the SACP for TMG as '##', reflecting its very strong economy and budgetary performance and its exceptional liquidity. + We are affirming our '##-' long-term issuer credit ratings and our negative outlook on TMG, which reflect the ratings on Japan because we do not believe TMG would be able to withstand 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 (Standard & Poor's) Aug. 26, 2015--Standard & Poor's Ratings Services today said that it has affirmed its '##-' long-term foreign and local currency ratings on Tokyo Metropolitan Government (TMG). The outlook remains negative. Our ratings on TMG reflect its very strong economy, very strong budgetary performance, and exceptional liquidity. Standard & Poor's deems the...
