S&P lowers outloook for Japanese debt

TOKYO — Uncertainty over Japan’s fiscal situation as it rebuilds after last month’s earthquake and tsunami prompted Standard & Poor’s to change its outlook on the country’s long-term debt rating from stable to negative, the ratings agency said Wednesday.

Standard & Poor’s stressed that its sovereign credit ratings on the world’s No.2 economy remained unchanged, but said the March 11 disasters cast some doubt over the country’s economic performance and future debt load.

“Much will depend on Japan’s political leadership and its ability to forge a political consensus on how to offset fiscal measures in the future,” the agency said.

Read the rest here.