July 29, 2020 / 1:26 AM / 10 days ago

Fitch revises credit outlook on Japan to negative on COVID-19 impact

July 29 (Reuters) - Rating agency Fitch on Wednesday revised its outlook on Japan’s long-term foreign currency debt rating to negative from stable, citing the sharp coronavirus-induced domestic economic contraction.

“The coronavirus pandemic has caused a sharp economic contraction in Japan, despite the country’s early success in containing the virus,” Fitch said.

The global rating agency affirmed Japan’s rating at ‘A’. (Reporting by Bhargav Acharya in Bengaluru; Editing by Shri Navaratnam)

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