Moody’s: Japan fiscal reform delay credit negative

  • Business Premium
  • Tuesday, 28 Jun 2011

TOKYO: The failure of Japan's government to meet a self-imposed June 20 deadline for announcing a long-term fiscal plan for the indebted country is a negative development, the ratings agency Moody's said.

“This development is credit negative as it does not anchor government finances in a framework that holds out the possibility for containing debt,” Tom Byrne, the ratings agency's senior vice president and regional credit officer said in comments posted on the agency's website.

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