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March 2010

S&P threatens to downgrade Japan’s rating:

By Raman Jokhakar
Tarunkumar G. Singhal
Chartered Accountants
Reading Time 1 mins
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New Page 171 S&P threatens to
downgrade Japan’s rating:

S&P
threatened to downgrade Japan’s rating unless the world’s second-largest economy
took more steps to rein in its mounting public debt.

The
warning by Standard & Poor’s, which cut its outlook for Japan’s sovereign rating
for the first time since 2002, reflected concerns that the government’s efforts
to trim its mounting public debt were proceeding too slowly.

S&P
retained its long-term credit rating for Japan of AA, defined by the agency as a
very strong capacity to meet financial commitments, but said it had revised the
outlook associated with that rating from stable to negative. The AA rating puts
Japan in the same category as Slovenia, Chile and Ireland, according to S&P’s
website.

(Source:
The Times of India dated 28.01.2010)

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