Moody's has cut
Japan's credit rating by one notch over rising doubts about its ability to
reduce debt levels.
The decision by the
ratings agency sent the yen to a seven-year low against the US dollar.
The downgrade comes
less than a two weeks before a snap general election called by prime minister
Shinzo Abe.
His economic stimulus
policies and a decision to delay a second sales tax rise will be among the key
campaign issues.
Tom Byrne, regional
credit officer of Moody's, said the downgrade was closely linked to Mr Abe's
decision to delay a sales tax rise due to
