Fitch Ratings has downgraded Japan's Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) to 'A' from 'A+'. The issue ratings on Japan's senior unsecured foreign and local currency bonds are also downgraded to 'A' from 'A+'. The Outlooks on the Long-Term IDRs are Stable. The Country Ceiling is downgraded to 'AA' from 'AA+' and the Short-Term Foreign Currency IDR is downgraded to 'F1' from 'F1+'. KEY RATING DRIVERS The downgrade of Japan's IDRs reflects the following key rating drivers:- - Fitch's downgrade reflects the fact that the Japanese government did not include sufficient structural fiscal ... (full story)