S&P lowers seven Japan government entities

Standard & Poor’s said it lowered the long-term issuer credit and debt ratings to A+ from AA- on Japan Bank for International Cooperation (JBIC), Japan International Cooperation Agency (JICA), Japan Expressway Holding and Debt Repayment Agency, Japan Housing Finance Agency, Japan Finance Organization for Municipalities and Narita International Airport Corp.

The agency also said it lowered its short-term issuer credit ratings to A-1 from A-1+ on JBIC, JICA, Japan Housing, Japan Finance and Narita.

The outlooks are stable.

S&P also said it lowered the long-term issuer credit and debt ratings on Development Bank of Japan Inc. to A from A+ and affirmed its short-term issuer credit and commercial-paper program ratings at A-1. The bank’s Japanese government-guaranteed debt also was downgraded to A+ from AA-.

The downgrades follow the lowering of the long- and short-term sovereign credit ratings on Japan, the agency said.

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