Showing posts with label Japan's debt. Show all posts
Showing posts with label Japan's debt. Show all posts

Wednesday, August 24, 2011

Moody's cuts Japan's debt rating on deficit concerns

Rating agency Moody's has cut Japan's long-term sovereign debt rating, citing concerns about the size of the country's deficit and borrowing levels.

The rating was cut to Aa3 from Aa2, though Moody's also said the country's outlook was stable.

Japan, the world's third-largest economy, has the highest public-debt level amongst developed economies.