Saying it expects fiscal deficits to remain high, S&P downgrades Japan's long-term debt to...

|By:, SA News Editor

Saying it expects fiscal deficits to remain high, S&P downgrades Japan's long-term debt to AA-. S&P also notes Japan's demographic situation will strain government finances even more in the future. The yen (FXY) (YCS) sinks -0.9% on the news, and stocks rise +0.7%.