S&P cuts Japan debt outlook to negative

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April 27, 2011 5:07 PM EST

Today the Standard and Poors (S&P) cut its outlook for Japanese sovereign rating due to the nation's reconstruction needs following last month's earthquake will likely add to what's already the world's biggest debt load.

Moreover, the company had reduced the rating to the fourth highest grade at AA-, while it reduced by one step in January in the first cut since 2002.

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