September 17, 2015 10:30
Global credit rating firm Standard & Poor's has downgraded Japan's sovereign rating by one-notch from AA- to A+.
The agency said Tokyo's strategy to boost the economy dubbed 'Abenomics' is unlikely to turn around Japan's sluggish economic prospects. Japan is struggling with a near-zero inflation rate and a shrinking GDP.
With the latest move, all three major global credit ratings agencies -- Moody's, Fitch and S&P -- have Korea's sovereign rating higher than Japan's.
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