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RATINGS TO JAPAN HIGHWAY PUBLIC CORPORATION
Info-Prod Research (Middle East), October, 2003
Moody's Investors Service has assigned its A2ratings to Japan Highway Public Corporation's (JH) Series 19 Yen 35billion 0.82% senior secured bonds, due 2008, Series 20 Yen 47 billion1.67% senior secured bonds, due 2013, and Series 21 Yen 8 billion 2.75%senior secured bonds, due 2033. The rating outlook is stable.
The bondsare not guaranteed by the Japanese government. The rating assignmentreflects Moody's belief that the Japanese Government will continue tohave strong incentive and willingness to protect the position of JH'sbondholders in an appropriate manner. JH is 100%- owned by the Japanese Government and its role is to develop and operate a nationwide, high-quality motor transport infrastructure, consisting of the national expressway network and regional toll roads. The...
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