the city of osaka will privatize the operations of its metro system
The City of Osaka will privatize the operations of its metro system
The City of Osaka will privatize the operations of its metro system in April 2018. “The new subway company will be wholly owned by the city for the foreseeable future. Therefore, the city will remain responsible to maintain operations. Privatization will generate issues such as retirement allowance payments and refinancing of corporate debt, which will affect the city's financial position to a degree that is manageable, in [Standard & Poor’s] view.” [Standard & Poor's press release 29 March 2017]