31 May '11, 4am

Moody's puts Japan on review for possible downgrade: TOKYO (Reuters) - Credit ratings agency Moody's Investors S...

TOKYO (Reuters) - Credit ratings agency Moody's Investors Service said on Tuesday it may downgrade Japan's sovereign debt ratings due to heightened concerns about faltering growth prospects and a weak policy response to the country's mounting public debt. "Without an effective strategy, government debt will rise inexorably from a level which already is well above that of other advanced economies," Moody's said, citing concerns about the government's ability to achieve a credit deficit reduction target. The announcement took Moody's one step closer to an actual downgrade after it changed the outlook on Japan's Aa2 sovereign rating to negative from stable in February. Subject to the review are Japan's Aa2 local and foreign currency bond ratings. Moody's said that in the review it would focus on "the scope, effectiveness and timeliness" of the government's proposed tax reform...

Full article: http://sg.news.yahoo.com/moodys-puts-japan-review-possibl...

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