S&P cuts Japan's debt outlook as spending surges during pandemic

Tokyo

S&P GLOBAL Ratings on Tuesday lowered its outlook on Japan's sovereign debt rating to stable from positive, citing increased uncertainty over the country's fiscal health as it boosts spending to overcome the effects of the coronavirus pandemic.

The move underscores the challenge Japan faces in trying to support an economy already slipping into recession, without losing control of its tattered finances. Its public debt is among the highest in industrialised nations.