($MACRO) Fitch Ratings warned on Thursday that it might downgrade the credit rating of China within two years and there was a greater than even chance of a downgrade of Japan's credit status.
Andrew Colquhoun, head of Asia-Pacific sovereign ratings at Fitch, told Reuters in an interview that China's local currency debt rating could face a downgrade over the next 12 to 24 months.
"We expect a material deterioration in bank asset quality," he said. "If the problems in the banking system pan out as we expect or are even worse over the next 12 to 24 months, then that would incline us to take the rating downwards."-Reuters
Andrew Colquhoun, head of Asia-Pacific sovereign ratings at Fitch, told Reuters in an interview that China's local currency debt rating could face a downgrade over the next 12 to 24 months.
"We expect a material deterioration in bank asset quality," he said. "If the problems in the banking system pan out as we expect or are even worse over the next 12 to 24 months, then that would incline us to take the rating downwards."-Reuters
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