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To: Lee who wrote (53291)	7/23/1998 10:15:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

<OT> Moody's on the prowl in Japan. Good morning Lee: I heard Japan's sovereign credit rating is under 'review' by Moody's due to deteriorating fundamentals of the economy. If downgraded what could be the likely outcome???? If Japan were a debtor nation it could have increased the cost of money but since they are are not this probably is not a major issue. But couldn't this affect the investor confidence in Japan prompting them flee elsewhere for investments,meaning money flowing out of the country into safer havens such as the U.S giving the U.S markets additional sustained strength?? Any and all comments welcome.