S&P cuts Japan’s rating to AA-
The ratings agency blamed the drop from AA on the country’s enormous public debt burden looking likely to rise faster than expected, and an apparent lack of strategy in the government over how to tackle this issue. But market observers are not too concerned.
Standard & Poor’s (S&P) downgraded Japan’s sovereign rating from ‘AA’ to ‘AA-‘ today (January 27), citing the country’s fast-expanding public debt burden and an apparent lack of agreement in the government about how to handle it.
However despite the surprising timing of the move - S&P placed the country on
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