Japan delay in fiscal target is credit negative: Moody's

TOKYO: Moody's Investors Service said on Monday that the Japanese government's admission that it won't meet an important target in repairing public finances is negative for the country's rating.

Last week, Japan's government said it would halve the ratio of its primary budget deficit to gross domestic product in 2016, one later than originally planed, as the government has delayed the timing of sales tax hikes.

A primary budget balance excludes debt servicing costs and income from bond sales.