Loading
28-Jan-2011 11:32 AM

Japan's credit rating cut to AA- by Standard & Poor’s due to high debt

Japan’s credit rating was cut for the first time since 2002 by Standard & Poor’s which stated the Japanese Government is lacking a "coherent strategy" to reduce a JPY943 trillion (USD11 trillion) debt burden (AP/The Australia/Bloomberg/Reuters, 28-Jan-2011). S&P reduced its rating on Japan's long-term sovereign debt from AA to AA- adding that it expects the country's fiscal deficits to remain high in coming years.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More