Japanese Banks May Be Downgraded: Among those...
From Times Staff and Wire Reports
Japanese Banks May Be Downgraded: Among those put on “ratings watch” by the ratings agency IBCA are the so-called big five city banks--Dai-Ichi Kangyo Bank, Fuji Bank, Mitsubishi Bank, Sanwa Bank and Sumitomo Bank--and the Industrial Bank of Japan. All are rated AAA, the highest available. IBCA noted that the banks’ results in recent years “have been increasingly dominated by the stock market,” which has fallen dramatically.
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