Japan Chemical Trading Blog
Moody Downgraded the Japanese Government Bonds
On December 1, The American credit rating company, Moody’s, announced the downgrade of the credit rating for Japanese government bonds by one level, from Aa3 to A1, considering that Japan’s financial reconstruction has become even more difficult due to Japan’s negative economic growth in the July-September period that marked negative growth for two successive quarters, and Abe Cabinet postponing the second consumption tax increase.
On the following day, on December 2nd, it cut its ratings of five Japanese banks and two life insurance companies (Nissay and Sony Life) that hold large amounts of Japanese government bonds.
With these events, the rating of Japanese government bonds becomes one level lower than China, South Korea and Saudi Arabia, and on the same level as the Czech Republic and Estonia.
Of course. I think that leaving debt to the future generation is a cowardly act.