Japan Ratings Affirmed At 'A+/A-1'; Outlook Remains Stable

OVERVIEW Japan's strong external position, prosperous and diversified economy, political stability, and stable financial system balance its very weak public finances. We are affirming our sovereign credit ratings on Japan at 'A+/A-1'. The outlook on the long-term rating remains stable. RATING ACTION On Sept. 1, 2016, S&P Global Ratings affirmed its 'A+/A-1' foreign and local currency unsolicited sovereign credit ratings on Japan. The outlook on the long-term ratings remains stable. Our transfer and convertibility (T&C) assessment remains 'AA+'. RATIONALE Our ratings on Japan reflect our view that the country's strong external position, prosperous and diversified economy, political stability, and stable financial system balance its very weak public finances, which are exacerbated by an aging population and persistent low or negative

...OVERVIEW + Japan's strong external position, prosperous and diversified economy, political stability, and stable financial system balance its very weak public finances. + We are affirming our sovereign credit ratings on Japan at 'A+/A-1'. + The outlook on the long-term rating remains stable. RATING ACTION On Sept. 1, 2016, S&P Global Ratings affirmed its 'A+/A-1' foreign and local currency unsolicited sovereign credit ratings on Japan. The outlook on the long-term ratings remains stable. Our transfer and convertibility (T&C) assessment remains '##+'. RATIONALE Our ratings on Japan reflect our view that the country's strong external position, prosperous and diversified economy, political stability, and stable financial system balance its very weak public finances, which are exacerbated by an aging population and persistent low or negative inflation. Japan is a relatively high-income economy. We estimate per capita GDP will be in a range between US$33,000 and US$36,000 through to the end...

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