30% CHANCE OF RATINGS DOWNGRADE FOR JAPAN – S&P

SINGAPORE - Japan's latest effort to escape deflation and revive economic growth is a drastic departure from the policies of previous governments, but Standard & Poor's says there is more than one-third chance that it will lower its 'AA-' long-term sovereign ratings on the nation. The continuing prospect of a downgrade arises from risks associated with recent Government initiatives and uncertainty of their success, S&P says.