• Bloomberg

  • SHARE

Fitch Ratings has revised the outlook on Japan’s sovereign rating from stable to negative while keeping the rating itself unchanged, following a similar move last month by S&P Global Ratings.

“The coronavirus pandemic has caused a sharp economic contraction in Japan, despite the country’s early success in containing the virus,” Fitch said in a statement Wednesday. “Sharply wider fiscal deficits in 2020 and 2021, as we project, will add significantly to Japan’s public debt, which even before the pandemic was the highest among Fitch-rated sovereigns as a share of GDP.”

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW