Economy
10:51 24/08/2011
Moody's cuts Japan's debt rating
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, according to BBC.
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.
The 2009 global financial crisis, and this year's earthquake and tsunami have increased the pressure on its finances.
"The rating downgrade is prompted by the large budget deficits and the build-up in Japanese government debt since the 2009 global recession," Moody's said in its statement.
"The March earthquake also undermined Japan's recovery from the 2009 global recession," it added.
Տեքստում սխալ կամ վրիպակ նկատելու դեպքում, ուղարկեք խմբագրին հաղորդագրություն` նշելով տվյալ սխալը, այնուհետև սեղմելով Ctrl-Enter:
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