Japan’s AAA Credit Rating Cut for First Time by Tokyo-Based R&I
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Tokyo-based Ratings & Investment Information Inc. cut Japan’s sovereign ranking for the first time, citing “uncertain” prospects for economic recovery.
R&I lowered Japan’s foreign- and domestic-currency issuer ratings one step to AA+ from AAA, the company said in a statement today. The company had put Japan on its ratings monitor for a downgrade on Nov. 30.