Moody’s gives Central Nippon bonds A1

Moody's Japan K.K. said it assigned an A1 rating to a total of $600 million fixed-rate bonds and floating-rate bonds due 2021 issued by Central Nippon Expressway Co. Ltd.

The rating outlook is stable.

The rating A1 reflects Central Nippon’s strong links with the government of Japan (A1, stable).

Moody’s said it believes that the creditworthiness of Central Nippon reflects that of the sovereign, given its importance to the development of Japan's transportation infrastructure, as well as the high level of credit support from, and the heavy involvement of, the government in its operations.

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