Credit ratings cut for two Japan banks.

NEW YORK - Economic troubles in Japan have prompted a lowering of credit ratings at two of the country's largest banks.

Dai-Ichi Kangyo Bank, the nation's largest, saw Moody's Investors Service downgrade letters of credit and its other guarantees to AA3 from AAI. The move affected $630 million of partially supported, long-term securities as well as securitized credit card and auto loan portfolios.

IBCA, a European rating agency, downgraded Long-term Credit Bank of Japan, the country's 13th largest, to A-Plus from AA-Minus on long-term issues, and to A-1 from A-1 Plus on short-term issues.

Both rating companies cited deterioration in the banks' asset quality.

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