Fitch says that Japanese financial institutions ratings are not affected by sovereign action

Fitch had a sovereign negative watch note yesterday that Ryan reported here

Says Fitch

Fitch Ratings’ placement of Japan’s sovereign ratings on Rating Watch Negative (RWN) has no immediate impact on the ratings of Fitch-rated financial institutions in Japan, although it implies the domestic operating environment is likely to remain subdued for some time.

Japan’s Long-Term and Short-Term Issuer Default Ratings (IDRs) of ‘A+’ and ‘F1+’, respectively, were placed on RWN on 9 December 2014 due to high and rising government debt and increased uncertainty about the authorities’ commitment to the objective of fiscal consolidation. The Rating Watch is expected to be resolved in the first half of 2015.

You can read the full note here

USDJPY firmer at 119.20