S&P affirms Japan at "A+/A-1"; outlook stable

S&P says: 

• Strong revenue growth over the past three years has improved Japan's fiscal position faster than we had expected and will continue to slow debt accumulation, in our view.
• However, we believe the fiscal deficit could widen over the next two years due to higher spending on investments and economic support measures, particularly if growth weakens more than anticipated.
• We affirmed our 'A+' long-term and 'A-1' short-term foreign currency and local currency sovereign credit ratings on Japan.
• The stable outlook on the long-term ratings reflects our view that nominal GDP and revenue growth will remain resilient despite rising risks from geopolitical developments.