TOKYO: Moody's Investors Service is maintaining a negative outlook on Japan's sovereign debt rating and watching developments, its senior vice-president Tom Byrne said on Wednesday.
Byrne made the remarks after S&P lowered the outlook for Japan's sovereign rating to negative on Wednesday, saying the earthquake, tsunami and nuclear power plant disaster will increase Japan's fiscal deficits above previous estimates.
"The bottom line is we are maintaining a negative outlook and watching developments," Byrne told Reuters in an interview. "We are interested in the bottom line, that's the rating bottom line -- the government fiscal deficit and government debt.
Moody's warned in February it might cut Japan's Aa2 rating -- its third highest -- if government policies fall short of comprehensive tax reform.
Byrne made the remarks after S&P lowered the outlook for Japan's sovereign rating to negative on Wednesday, saying the earthquake, tsunami and nuclear power plant disaster will increase Japan's fiscal deficits above previous estimates.
"The bottom line is we are maintaining a negative outlook and watching developments," Byrne told Reuters in an interview. "We are interested in the bottom line, that's the rating bottom line -- the government fiscal deficit and government debt.
Moody's warned in February it might cut Japan's Aa2 rating -- its third highest -- if government policies fall short of comprehensive tax reform.
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