($MACRO) Germany Downgrade Possible Within Three Months: Aberdeen Asset

 Aug. 24 (Bloomberg) -- The “writing is on the wall” for a
German downgrade after the downgrade of Japanese government
debt, Anthony Michael, fund manager at Aberdeen Asset Management
said in phone interview.
 * Could see German downgrade within 3 months; cites weak
fiscal fundamentals, deteriorating demographics, risk in euro
structure
 * France, Italy downgrade “not impossible” by year-end
 * Unlikely to see downgrade in Asia-Pacific region; cites
   fiscal fundamentals, flexibility
 * NOTE: Moody’s downgraded Japanese government bonds today,
bringing the countries rating to the same level of China.