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Japan's Credit Rating Lowered By Moody's
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Japan's Credit Rating Lowered By Moody's

Business

Japan's Credit Rating Lowered By Moody's

Japan's Credit Rating Lowered By Moody's
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Moody's has lowered Japan's credit rating a notch, putting more pressure on the giant economy. Standard and Poor's lowered its rating on Japan earlier this year.

RENEE MONTAGNE, Host:

NPR's business news starts with another downgrade for Japan.

(SOUNDBITE OF MUSIC)

MONTAGNE: Moody's has lowered Japan's credit rating a notch, putting more pressure on that huge economy. Standard and Poor's has lowered its rating. That was earlier this year. Moody's cited the country's heavy debt load and a political revolving door at the top that prevents the government from being able to tackle its fiscal problems.

Japan has had five prime ministers in the last six years, and the current leader is expected to step down this month.

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