Ratings On Japan Affirmed At 'AA-/A-1+'; Outlook Remains Negative Feb 13

Standard & Poors, February 2013

Abstract
Japan's credit characteristics include one of the strongest external profiles and one of the weakest fiscal positions among rated sovereigns. We affirmed our 'AA-' long- and 'A-1+' short-term sovereign credit ratings on Japan. We maintain a negative rating outlook pending policy developments of the new administration. SINGAPORE (Standard & Poor's) Feb. 18, 2013--Standard & Poor's Ratings Services said today that it has affirmed its long- and short-term sovereign credit ratings on Japan at 'AA-' and 'A-1+', respectively. The outlook on the long-term ratings remains negative. Standard & Poor's rating on Japan balances its extremely strong external position, its prosperous and diversified economy, and its recovered financial system with a very weak fiscal position, aging demographics, and (until now) persistent deflation....

Companies mentioned in this report are:
- Japan (Unsolicited Ratings)

Action: Affirmed

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Japan (Unsolicited Ratings)

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