Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development 's (JOIN) A1 local-currency long-term issuer rating reflects the company's very strong links with the Government of Japan (GoJ, A1 stable).

JOIN's creditworthiness reflects that of the sovereign, given the corporation's role in supporting important GoJ policy initiatives. The corporation's creditworthiness also reflects the very high level of credit support from and the heavy involvement of the GoJ in its operations.

The level of integration between JOIN and the GoJ is so strong that a standalone credit analysis for JOIN is not significant. Therefore, we do not assign a Baseline Credit Assessment to JOIN.

On December 12, 2023, we affirmed JOIN's A1 rating.