Japan: SP keeps the note at ‘A +’ ‘- Le Figaro

The rating agency Global Ratings SP (formerly Standard & Poor’s) continued Thursday at “A +” Japan’s long-term debt rating, with a stable outlook, saying the many assets of the country were offset ” very degraded public finances “.

As for the positives, SP quoted in a statement” a strong external position, a prosperous and diversified economy, the political and economic stability and a stable financial system “, with powerful banks.

in the near future, the agency does not plan to alter that assessment, the fifth note in descending order, attributed to strong debt issuers but may be affected by changes in the situation economic.

Besides the fact that SP table on “nominal growth of 2% on average”, it invokes negative rates on government bonds to 10 years “that will slow the burden of public debt the next two years and eventually stabilize. “

in fact, investors who desperate to go safe investments in a context of international uncertainty, are willing to lose money by paying the Japan to borrow that these deadlines becomes profitable.

SP, however, could lower the rating of the archipelago in the longer term “if the response of the authorities proved inadequate to support growth and overcome deflation stabilize debt “approaching the colossal level of 250% of gross domestic product (GDP).

earlier this week, Moody’s also affirmed the sovereign rating of Japan to” A1 “, mentioning also the very low interest rates expected to maintain because of “the ultra-loose monetary policy of the Bank of Japan.”

But it stressed at the same time “the challenges facing the government, “which fails to invigorate the third world economy despite the strategy” abenomics “launched in late 2012.

Fitch, the third rating agency, had been more severe in June certainly maintaining his appreciation “a” but by degrading his perspective of evolution after the announcement by Prime Minister Shinzo Abe for a second postponement of VAT hike.

“It was an important element of the fiscal consolidation strategy of the government,” recalled Fitch, alarmed by this time undermining, she said, “the credibility” of Japan.