Upgrade Trend In Japan Marches On In Third Quarter 2006 Oct 06
- ID: 1771198
- October 2006
- Region: Japan
- Standard & Poors
The upward credit trend for Japanese issuers continued in the third quarter of 2006, with 10 upgrades, six upward revisions of outlooks, and just one downgrade. Four major steel groups were upgraded based on falling industry risk brought about by consolidation. In the insurance sector, Standard & Poor's Ratings Services raised its ratings on Mitsui Life Insurance Co. Ltd., and revised to positive the outlooks on the ratings on Taiyo Life Insurance Co., Daido Life Insurance Co., and Asahi Mutual Life Insurance Co. Against the trend, Standard & Poor's downgraded Skylark Co. Ltd., reflecting expectations for weakening profitability and a deterioration in its debt structure over the next one to two years. Skylark is borrowing money to finance a management...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Mitsubishi Estate Co. Ltd.,Aozora Bank Ltd.,ITOCHU Corp.,Nikon Corp.,Asahi Mutual Life Insurance Co.,Mitsui Life Insurance Co. Ltd.,Nomura Trust & Banking Co. Ltd.,Daido Life Insurance Co.,Kobe Steel Ltd.,Nippon Steel Corp.,Sumitomo Metal Industries Ltd.,Taiyo Life Insurance Co.,Cititrust & Banking Corp.,Mitsubishi Motors Corp.,Japan Housing Finance Agency,Seven Bank Ltd.,Nidec Corp.,JFE Steel Corp.,JFE Holdings Inc.,Skylark Co. Ltd.,Sojitz Corp.,Narita International Airport Corp.,Mitsui Sumitomo Primary Life Insurance Co. Ltd.