RATINGS: Foreign and Local Currency U: A+/Positive/A-1 For further details see Ratings List. Japan's formidable external position, its prosperous and strengthening economy, and the yen's role as a global reserve currency offset weak public finances and adverse demographics. We are revising our outlook on Japan to positive from stable. We are affirming our 'A+/A-1' sovereign credit ratings on Japan. The positive outlook on the long-term rating reflects Japan's healthier growth prospects in both real and nominal terms--which are likely to gradually benefit fiscal performance over the next three to four years. On April 13, 2018, S&P Global Ratings revised its outlook on Japan to positive from stable. At the same time, we affirmed our 'A+' long-term and 'A-1' short-term foreign
