Moody's Investors Service says Japan's A1 issuer and senior unsecured ratings and stable outlook are supported by fundamental features that make an extraordinarily high level of government debt affordable. But the foremost credit challenge is bolstering debt sustainability through fiscal consolidation. It is unclear how the government can reach its balanced or near balanced primary fiscal balance target by 2020 in the absence of stronger growth. More robust economic activity will likely depend on the nature, speed of implementation, and effectiveness of structural reforms. Moody's conclusions were contained in its ... (full story)