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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (386562)5/18/2009 12:45:36 PM
From: Giordano Bruno  Read Replies (1) of 436258
 
Moody's on cutting Japan

It is no secret that at the current inflection point, the threat of skyrocketing debt and "lack of appetite" for new debt issuance is much more severe at other sovereigns (hint: the US) is much higher than that of Japan. Thus, based just on this information, one should expect some adverse credit language focusing on either the U.K. or the U.S. relatively soon.

"The move to lower Japan's foreign currency bond rating from Aaa opens the way for speculation about whether Moody's will take similar actions on other triple-A ratings," said Kenro Kawano, senior rates strategist at Credit Suisse in Tokyo.

"Also, with Moody's citing as Japan's strengths its funding ability, it also fuels speculation about a cut to a triple-A rating on a country which cannot fund itself."
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