Wednesday, May 20, 2009

Japan's loss of AAA rating

The quote from Moody's is "Japan's credit profile is Aa2 The unified rating of Aa2 reflects Japan's considerable strengths. These include Japan's large domestic savings, a strong home bias on the part of its domestic financial institutions and institutional investors, relatively low holdings of government debt by foreign investors, and Japan's $1 trillion of official foreign exchange holdings.

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