TOKYO - Moody's Investigators Service Inc. reduced its ratings of the short-term and long-term credit of four Japanese trust banks, citing deteriorating asset quality.

The banks downgraded were Mitsubishi Trust and Banking Corp., Sumitomo Trust and Banking Corp., Yasuda Trust and Banking Corp., and Toyo Trust and Banking Corp., and Toyo Trust and Banking Corp. Their profitability continues to weaken as the quality of their assets erodes and deregulation widens competition, Moody's said

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.