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Economy

S&P raises Japan's credit outlook to positive

Healthier economic prospects prompt revision, sovereign rating steady

Japan's Prime Minister Shinzo Abe: A healthier economy supported by 'Abenomics' has lifted the credit outlook.   © Reuters

TOKYO -- Standard & Poor's raised Japan's sovereign credit outlook to "positive" from "stable" on Friday. The rating agency cited healthier economic prospects as the primary reason for the revision.

"Nominal economic growth exceeding 2%, alongside negative effective real interest rates, would allow the sovereign's relative debt burden to stabilize sooner than we had previously expected," S&P said. "Tourism and healthcare spending have helped boost employment and investment," it added.

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