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MOODY'S ASSIGNS AAA TO JAPAN FINANCE ORGANIZATION FOR MUNICIPALITIES' BOND DUE 2029; UNDER REVIEW FOR POSSIBLE DOWNGRADE
Info-Prod Research (Middle East), June, 2009
Moody's Investors Service has assigned a Aaarating to Japan Finance Organization for Municipalities' (JFM) Series 1Japanese Yen 30 billion domestic senior debt due 2029. At the same timethe rating has been placed under review for possible downgrade, asMoody's considers the appropriateness of the public sector support anchor(currently the Aaa Local Currency Deposit Ceiling), in accordance withthe unification of the central government's foreign and domestic currencyratings at Aa2.
This review was not triggered by a change in JFM'sstand--alone credit profile. This issue is a domestic yen bond without agovernment guarantee. JFM is the only specialized public institution providing low-cost, long-term funds to local governments in Japan. JFM has expanded itsscope of operations to...
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