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Article: JAPAN: MOODY'S ASSIGNS AA2 TO HIROSHIMA PREFECTURE'S DOMESTIC BONDS DUE 2019.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- November 8, 2009
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Moody's Investors Service has assigned Aa2 rating to Hiroshima Prefecture Series 4 JPY 10 billion bonds, due 2019. The rating outlook is stable. The rating is supported by the prefecture's improving fiscal outcomes, reflecting a new action plan for fiscal improvement, prudent investment policies, and the prefecture's economic strength as the centre of the Chugoku area. According to its fiscal plan, the prefecture aims to generate cashsurpluses by reducing salary, capital and other general expenditures,thereby ensuring that new debt issuance is below principal payments anddebt is reduced. Low priority infrastructure projects have already been abandoned by the prefecture. ...