Japans credit rating has been downgraded by two levels by rating agency Fitch on concerns about the countrys high levels of debt.
Fitch cut Japans rating to A+ from AA and warned that further downgrades were possible.
Japan has by far the highest debt to GDP ratio of any major economy, although much of this debt is held by domestic investors.
The government has spent huge amounts of money on trying to stimulate growth.
“The downgrades and negative outlooks reflect growing risks for Japan’s sovereign credit profile as a result of high and rising public debt ratios,” Fitch said.
Read the rest of the story: Japans economy downgraded by Fitch on debt concerns.