S&P affirmed Japan's ratings at 'A+' and outlook stable

On Wednesday, S&P affirmed Japan's ratings at 'A+' and outlook stable and now expects Japan's government debt to grow at a slower annual rate of about 5% of GDP in fiscals 2016-2019.

Key Quotes:

The corresponding increase in net general government debt will bring it to 133% of GDP in fiscal 2019 from 126% in fiscal 2016

The stable outlook on the long-term rating on Japan reflects our expectations that nominal economic growth averaging 2% and negative effective real interest rates on government debt will slow the increase in the government debt burden over the next two years and eventually stabilize it