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eshmun

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03/06/16

14:08

Post #: 17945051
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Originally posted by eshmun ↑

Report from Bloomberg last night saying Fitch are more circumspect than S&P on the potential of a Japanese sovereign debt downgrade if the comsumtion tax rate hike is delayed. Eshmun

http://www.bloomberg.com/news/artic...edibility-hit-on-tax-while-s-p-less-concerned

“If Japan’s government has decided to delay the consumption tax increase scheduled for April 2017 as reports indicate, it would undermine the credibility of the political commitment to fiscal consolidation,” Andrew Colquhoun, Fitch’s head of sovereign rankings for the Asia-Pacific region, said in an e-mail. “However, Fitch will await further detail on the government’s revised fiscal plans before drawing conclusions for Japan’s ratings."

Fitch in April 2015 lowered the country’s credit rating to A, the same level as Malta and Ireland.

S&P Global Ratings was sanguine. “We don’t see much rating implication,” Kim Eng Tan, a senior director of Asia-Pacific sovereign ratings, said by telephone. “There’s no certain impact on the rating profile or the ratings.”

S&P in September 2015 lowered Japan’s credit rating to A+, the same level as Slovakia and Israel.

Officials at Moody’s Investors Service weren’t immediately available to comment.

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More on the maybe yes maybe no downgrading of Japan by the various ratings agencies. Interview with S&P's "fall guy" Kim Eng Tan (Snr director Sovereign ratings) on CNBC. Esh

http://www.cnbc.com/2016/06/01/aben...-draws-mixed-views-from-ratings-agencies.html

BDR Price at posting: 29.0¢ Sentiment: None Disclosure: Not Held
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