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01-28-2011, 02:51 AM #1
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Japan's Credit Rating Cut First Time in 9 Years; S&P Cit
Thursday, January 27, 2011 12:45 PM
Japan's Credit Rating Cut First Time in 9 Years; S&P Cites "Lack of Coherent Strategy to Address Debt"
Japan has the largest debt problem in the G20 by measure of debt-to-GDP ratio near 200%. Moreover, Japan's aging demographics and lack of growth give Japan little ability to pay that debt back.
Citing those debt concerns, Japan’s Credit Rating Cut to AA- by S&P http://noir.bloomberg.com/apps/news?pid ... M9KdInBc_w
Japan’s credit rating was cut for the first time in nine years by Standard & Poor’s as persistent deflation and political gridlock undermine efforts to reduce a 943 trillion yen ($11 trillion) debt burden.
The world’s most indebted nation is now ranked at AA-, the fourth-highest level, putting the country on a par with China, which likely passed Japan last year to become the second-largest economy. The government lacks a “coherent strategyâ€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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