15 April 2002, 19:55 S&P ratings downgrades Japan
S&P ratings downgrades Japan, with outlook remaining negative due
to delay in structural reforms. The move has been expected by many in the
fx/debt markets but it will surely draw officials protest from the
Koizumi govt and BoJ. The ratings on Japan"s l/t local and currency
sovereign credit were lowered to double "A minus" from double "A".
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