Moody's rates Nagoya series 473 domestic bonds at Aa2.

(ADPnews) - Dec 10, 2010 - Moody's assigned a Aa2 rating to the city of Nagoya's series 473 domestic senior unsecured bonds quoting the steady operating environment and protective institutional framework in Japan.

The debt is worth JPY 20 billion (USD 239.3m/EUR 180.5m) and matures in 2020.

The rating bears a "stable" outlook.

Moody's says that the stable conditions reduce the possibility of economic, financial market or political stress to the minimum. Besides, the national government monitors the operations of local governments and provides fiscal transfers to manage fiscal disparities, which adds to the credit strength, the agency notes.

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