Aiful Corp spreads hold steady despite ratings action

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Japan's biggest consumer finance firm, Aiful Corporation, suffered another blow last month after Standard & Poor's placed its BBB+ rating on creditwatch with negative implications on May 15 to reflect the likely increase in reserves it will require for refunds related to overcharged interest. The Osaka-based company, along with its rivals, was hit by a Japanese Supreme Court ruling in February 2006 that allows consumers to claim back interest that has been overcharged, for up to 10 years. Ai

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