Fitch downgrades Japan’s credit rating because of ballooning government debt

[dkf]

TOKYO — Fitch has downgraded Japan’s credit rating to A-plus with a negative outlook, reflecting risks from its ballooning government debt.

Fitch Ratings said Tuesday that the downgrade and negative outlook underline growing risks for Japan from high and rising public debt.

Japan’s gross government debt is projected to hit 239 percent of its economy by the end of this year, by far the highest of any Fitch-rated country.

A Fitch statement described Japan’s plans to control its debt mountain as “leisurely.”

http://www.washingtonpost.com/business/fitch-downgrades-japans-credit-rating-because-of-ballooning-government-debt/2012/05/22/gIQAtWQjhU_story.html

[PoliticAverse]

1. Japan is the only country ahead of Greece in the debt as % of GDP rankings...

Last edited Tue May 22, 2012, 04:26 PM - Edit history (1)

http://en.wikipedia.org/wiki/List_of_countries_by_public_debt (IMF ranking)