Japan's credit rating downgraded by Standard & Poor's (BBC)

[eppur_se_muova]

Rating agency Standard & Poor's (S&P) has downgraded Japan's credit rating from AA to AA-, citing Japan's worsening debt situation for the move.

It said it expected Japan's debt, which already stands at almost twice the country's annual economic output, to continue rising for about 15 years.

It added that the government "lacked a coherent strategy" for tackling the debt problem.

Separately, figures showed Japan's export growth accelerating in December.

"The downgrade reflects our appraisal that Japan's government debt ratios - already among the highest for rated sovereigns - will continue to rise further than we envisaged and will peak in the mid 2020s," S&P said.
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more: http://www.bbc.co.uk/news/business-12295158

[dixiegrrrrl]

1. If the USA does not radically change econ. policy, this is our future too.

[damntexdem]

2. I always thought that 'Standard and Poor' was a great unfortunate name for a credit rating group.

[Art_from_Ark]

3. You either meet their "standard",

or you become "poor"