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Japan's Debt Rating Downgraded at S&P to A+ From AA-
Japan's debt ratings were reduced at Standard & Poor's over doubts the government will revive economic growth and end deflation in the next two to three years. "We believe the likelihood of an economic recovery in Japan strong enough to restore economic support for sovereign creditworthiness commensurate with our previous assessment has diminished," according to a statement from the company. The country has some 54 trillion yen ($450 billion) of debt outstanding. The ratings were lowered to A+ from AA-, remaining investment grade.