Power an Issue for Japan: Moody’s
Disruptions in its power supply and the potential for government assistance for Japan’s Fukushima power plant operator, coupled with uncertainty surrounding the cost, could translate to additional problems for the fiscal health of the country, said Moody’s Investors Service on Tuesday.
Japan Struggles in Quake, Tsunami Aftermath; Nikkei Plummets
As Japan continued to deal with the massive damage inflicted by a record earthquake and tsunami, the Nikkei plummeted 633.94 points, or 6.2%, to close at 9,620.49, it's biggest one-day drop since October of 2008.
Moody’s Cuts Japan Debt Outlook to Negative
Moody’s Investors Service on Tuesday cut its outlook on Japan’s sovereign debt to negative, warning that the nation must take substantive action to control its debt or it will be in for a ratings downgrade.
Moody’s Warns Japan on Debt
Moody’s Investors Service warned Wednesday that Japan’s credit rating might be in for a downgrade if that nation cannot successfully implement fiscal reforms.