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- Fitch Ratings retained Japan's sovereign ratings at 'A'
Fitch Ratings retained Japan's sovereign ratings at 'A'
Fitch Ratings retained Japan's sovereign ratings at 'A' with a 'stable' outlook. The agency said the ratings balance the strengths of an advanced and wealthy economy, with high governance standards and strong public institutions, against weak medium-term growth prospects and high public debt.
Further, Japan has strong external finances supported by its current account surplus and large external credit and international investment positions. Moreover, the nation has reserve currency status and investors perceive Japan as safe haven. Nonetheless, Japan's high level of gross general government debt is the major rating constraint.
Fitch forecast the economy to grow 0.8% this year, the same as in 2018. Growth is forecast to lose steam through the rest of the year and early 2020 on the back of weak exports and industrial output.
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