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Article: JAPAN: MOODY'S ASSIGNS AA1 TO CITY OF SAPPORO'S DOMESTIC BOND DUE 2012.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- July 5, 2009
CopyrightCOPYRIGHT 2009 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moody's Investors Service has assigned Aa1 rating to the City of Sapporo's Series 3 Yen 3 billion bond (Lilac-sai) due 2012. At the same time the rating has been placed under review for possible downgrade, as Moody's considers the appropriateness of the public sector support anchor (currently the Aaa Local Currency Deposit Ceiling), in accordance with the unification of the central government's foreign and domestic currency ratings at Aa2. This review was not triggered by a change in City of Sapporo's stand-alone credit profile. The ratings are supported by the city's declining debt burden, fiscal reform activities, sound debt and investment management policies, ...