Moody's downgrades Japan's sovereign debt rating

The announcement briefly sent the yen to a seven-year low against the dollar and pushed 10-year Japanese government bond (JGB) futures down by 10 ticks.

December 01, 2014 / 16:06 IST

Moody's Investors Service on Monday downgraded Japan's sovereign debt rating by one notch to A1 from Aa3, citing heightening uncertainty over the country's ability to hit its debt-reduction goal.

The announcement briefly sent the yen to a seven-year low against the dollar and pushed 10-year Japanese government bond (JGB) futures down by 10 ticks.

The US rating agency said the outlook was stable.

first published: Dec 1, 2014 04:06 pm

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