S&P Downgrades Japan from AA to AA-
Posted on February 9th, 2011
Japan has been in a continued recession for the past 20 years.
The deficit levels of the Japan government are among the highest of the developed countries, and expected to increase in the coming years.
This is not good news for Japan. As the rating decreases, the extra premium paid to borrow money goes up. So, a 3% cost of borrow might increase to 4%.
Anyway, this is something to watch as the United States deficit to GDP is increasing rapidly.
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