Japan’s Credit Rating Cut by S&P to AA- on Mounting Debt

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Jan. 27 (Bloomberg) -- Japan’s sovereign credit rating was cut for the first time in nine years on concern that Prime Minister Naoto Kan hasn’t done enough to curb an $11 trillion debt burden, the world's largest. The nation’s debt is now ranked AA-, the fourth-highest level and alongside China, by Standard & Poor’s. The reduction from AA was announced by S&P in a statement today. Bloomberg's Mike Firn reports. (Source: Bloomberg)

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