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Credit Quality Of Japanese Corporations Likely To Stabilize In 2010 Mar 10
Standard & Poors, March 2010
Abstract
The credit quality of Japanese industrial corporations is likely to stabilize in 2010. Japanese corporations, particularly those in manufacturing, appear to have weathered the worst of the period following the severe deterioration in the global economy, which was precipitated by the Lehman shock in 2008. Standard & Poor's Ratings Services is of the opinion that the performance of Japanese corporations generally bottomed out in the first half of fiscal 2009 (April 1, 2009, to Sept. 30, 2009), and expects their credit quality to stabilize further in 2010. We believe that corporations' financial performance is stabilizing to an extent, and that we have passed the peak of ratings downgrades and downward revisions to outlooks. Indeed, we are of the opinion that...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
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.
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