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Article: MOODY'S ASSIGNS AA1 TO CITY OF SAPPORO'S DOMESTIC BOND DUE 2012

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Info-Prod Research (Middle East)
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July 5, 2009
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Moody's Investors Service has assigned Aa1 ratingto the City of Sapporo's Series 3 Yen 3 billion bond (Lilac-sai) due2012. At the same time the rating has been placed under review forpossible downgrade, as Moody's considers the appropriateness of thepublic sector support anchor (currently the Aaa Local Currency DepositCeiling), in accordance with the unification of the central government'sforeign and domestic currency ratings at Aa2. This review was nottriggered 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, including for its related ...

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