S&P affirms Japan's debt rating as negative rates lower government debt burden

By Minami Funakoshi TOKYO (Reuters) - Standard & Poor's Ratings Services on Thursday affirmed Japan's A+/A-1 sovereign debt rating and maintained a stable outlook despite its heavy debt burden, saying political stability and stable financial system offset fiscal woes. The rating agency said it expected Japan's nominal economic growth to average 2 percent, and negative interest rates on newly issued bonds to ease and stabilise the government's debt burden over the next two years.