Investor Presentaiton
4-(2) Management of Prefectural Bonds
Appropriate Sinking Fund
Accumulation Rule
Lump-sum payment at maturity
=accumulation of 3.7% (1/27th) of total
prefectural bond issuance after 3-year deferral
period
*No borrowings from sinking fund to date
4. Bond Issuances
Shizuoka
Prefecture
(100 million yen) Sinking Fund Balance (Lump Sum)
2,500
2,000
1,500
2,109 2,155
1,832
1,641
1,442
1,226
1,047
869
1,000
644
328
500
Credit Ratings
(Coverage initiated on 9/6/2007)
Moody's Investors
Service
Rating and Investment
Information, Inc. (R&I)
0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
* FY2008 figure is a forecasted figure
(FY)
Aa1 / Stable
(Foreign denominated: Aaa)
Comments
Shizuoka's administrative and fiscal operations are believed to
be strong. The prefecture commenced New Public
Management (NPM) at an early stage and has been promoting
improvement efforts by all personnel in the "one-reform-per-
person movement" for almost 10 years. Shizuoka is currently
implementing reforms based on the "focused reform plan."
AA+ / Stable
Shizuoka achieved a AA+ rating based on a high evaluation of
the solid economic foundation and steady progress in restoring
fiscal health based on the "focused reform plan"
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