Japan's sovereign rating has yet to reach the point at which it should be downgraded, a senior vice president at Moody's Investors Service said.
"There has to be an accumulation or critical massive negative developments to happen before we lower the rating," Thomas Byrne, who is responsible for the ratings of Japan and other major Asian economies, said in Tokyo on Friday. "We haven't reached that point yet."
Moody's lowered Japan's credit grade to Aa3 in August with a stable outlook, citing a buildup in government debt. (Japan Times)
↧