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Moody's downgrades Japan

BANGKOK -- Moody's Investors Service downgraded Japan's sovereign debt rating on Monday. The ratings agency is dropping Japan one notch from Aa3 to A1. The outlook remains stable, Moody's said.

     In a report published on Monday, Moody's mentioned three major drivers for the downgrade. The first was the "heightened uncertainty over reaching fiscal targets and containing debt." The agency poses a question as to "whether policymakers can overcome the tensions inherent in promoting growth while simultaneously stabilizing and reversing the rising debt trajectory."

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