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IPFS News Link • Economy - International

Japan's credit outlook is cut to negative by Moody's

02-22-2011 • BBC.co.uk/

Moody's Investor Services has cut its outlook on Japan's credit rating to "negative" from "stable" citing concerns about debt levels. Moody's currently rates Japan's government debt at an Aa2 level. In January, rival rating agency Standard & Poor's downgraded Japan's credit rating from AA to AA-, also citing debt concerns. Earlier this month, Japan was overtaken by China as the world's second-largest economy. 'Inexorable rise' Japan has been trying to boost its economic growth and as a result government spending and borrowing has increased. Moody's said that the government needed to do more to cut borrowing levels. Japan currently has the highest government debt levels of any industrialised nation.

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Reported By Jack Gregson

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