28 November 2001, 12:30 Japan Downgraded By S&P
Standard and Poors, the international ratings agency, downgraded Japan's sovereign long-term ratings by one notch to AA. However, the downgrade was less than the widely expected
two notches. Standard and Poors affirmed Japan's short-term local and
foreign currency sovereign ratings. S&P added they may further downgrade
Japan's sovereign rating if the government debt dynamics worsen.
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