Tokyo Metropolitan Government's US$1 Billion Dollar-Denominated Bonds Rated 'AA-' - S&P Global Ratings’ Credit Research

Tokyo Metropolitan Government's US$1 Billion Dollar-Denominated Bonds Rated 'AA-'

Tokyo Metropolitan Government's US$1 Billion Dollar-Denominated Bonds Rated 'AA-' - S&P Global Ratings’ Credit Research
Tokyo Metropolitan Government's US$1 Billion Dollar-Denominated Bonds Rated 'AA-'
Published May 13, 2015
3 pages (1049 words) — Published May 13, 2015
Price US$ 150.00  |  Buy this Report Now

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Abstract:

TOKYO (Standard&Poor's) May 13, 2015--Standard&Poor's Ratings Services today said that it has assigned its 'AA-' debt rating to Tokyo Metropolitan Government's (TMG; AA-/Negative/--) US$1 billion, 2.125% dollar-denominated senior unsecured bonds due May 19, 2020. The strength of TMG's economy compares well with that of international peers, and TMG is at the heart of Japan's economy and attracts widespread economic, political, and other value-added activities that support a diverse industrial base and high residential income. TMG has strong tax revenues that enable it to stand independent of the central government's vertical fiscal adjustments. We evaluate TMG's modifiable revenues (including taxes, fees, and rates but excluding central government transfers) as the strongest of any local or regional government

  
Brief Excerpt:

...TOKYO (Standard & Poor's) May 13, 2015--Standard & Poor's Ratings Services today said that it has assigned its '##-' debt rating to Tokyo Metropolitan Government's (TMG; ##-/Negative/--) US$1 billion, 2.125% dollar-denominated senior unsecured bonds due May 19, 2020. The strength of TMG's economy compares well with that of international peers, and TMG is at the heart of Japan's economy and attracts widespread economic, political, and other value-added activities that support a diverse industrial base and high residential income. TMG has strong tax revenues that enable it to stand independent of the central government's vertical fiscal adjustments. We evaluate TMG's modifiable revenues (including taxes, fees, and rates but excluding central government transfers) as the strongest of any local or regional government in Japan. TMG maintains sufficient liquidity, which also supports the ratings. The sovereign ratings on Japan (##-/Negative/A-1+) constrain the ratings on TMG. Although TMG does...

  
Report Type:

Ratings Action

Ticker
1181Z
Issuer
Tokyo Metropolitan Government
Sector
Global Issuers
Country
Japan
Region
Asia
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Tokyo Metropolitan Government's US$1 Billion Dollar-Denominated Bonds Rated 'AA-'" May 13, 2015. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Tokyo-Metropolitan-Government-s-US-1-Billion-Dollar-Denominated-Bonds-Rated-AA-1398388>
  
APA:
S&P Global Ratings’ Credit Research. (). Tokyo Metropolitan Government's US$1 Billion Dollar-Denominated Bonds Rated 'AA-' May 13, 2015. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Tokyo-Metropolitan-Government-s-US-1-Billion-Dollar-Denominated-Bonds-Rated-AA-1398388>
  
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