S&P affirms Japan's AA- rating, warns on outlook

HONG KONG (MarketWatch)
Credit-ratings agency Standard & Poor's Corp. on Monday reaffirmed Japan's sovereign debt rating at AA-, but cautioned it would consider lowering its long and short term ratings if Japanese authorities fail to alter the debt trajectory from its current course
The credit-rating agency said it would monitor efforts by Tokyo to improve its fiscal position, including proposals currently being circulated for an increase in the national sales tax
The credit-rating agency said it would maintain its negative outlook on Japanese sovereigns, citing a weak government policy footing, fiscal deficits, persistent deflation, shrinking population and high debt