There apparently has been no further deterioration in corporate profits.
On Wall Street, investors were less interested in the Fed than in the deterioration of corporate profits, which seem unlikely to perk up immediately.
"We expect that negative developments will exacerbate existing trends in an already weak Japanese economy, which has led to steady deterioration" of corporate credit quality of small and medium-size enterprises for more than a year, Moody's wrote.
They could come under the cosh to be more conservative in their ratings, leading to a further general deterioration of corporate credit quality, and thus make debt more expensive.
There has been a major deterioration in its corporate book – exposed to property and the retail sector – to £3.3bn compared with £1.7bn in September HBOS said: "Global market and economic conditions, UK recession and increasing unemployment will continue to present a particularly challenging operating and credit environment.
One was that the continuing deterioration in Asia means corporate earnings among American companies in the second half will not bounce back as Wall Street's Pollyanna analysts continue to claim.
Oliver Parry, senior corporate governance adviser at the Institute of Directors, said the deterioration in trading may focus institutional investors on the corporate governance issues at Sports Direct.
After a year of largely fruitless efforts, with few tangible benefits and a significant deterioration in the relationship between the corporate center and the units, the chief executive began to retreat, curtailing the synergy initiatives.
Standard & Poor's cut Toyota's top-rated "AAA" long-term corporate credit rating to "AA+," saying the continued deterioration of auto sales worldwide will pressure Toyota's finances.
The U.S. economy may be heading into a recession, Fandetti wrote, which would increase credit deterioration even in sectors such as corporate and commercial real estate, which have held up well thus far.
