Fitch cuts outlook for Japan credit rating on coronavirus impact

International rating agency Fitch Ratings Inc. has revised down its outlook for Japan's credit rating from stable to negative, citing a sharp economic contraction triggered by the coronavirus pandemic."A downturn in consumer spending and business investment has been exacerbated by a steep decline in exports associated with weak external demand," the agency said in a news release Tuesday.While maintaining the sovereign rating at A, Fitch warned that "sharply wider fiscal deficits in 2020 and 2021, as we project, will add significantly to the country's public debt, which even before the pande…READ FULL ARTICLE