Japan sees credit rating downgraded

Moody's Investors Service downgraded Japan's credit rating, citing the country's weak growth prospects, massive government debt and constant political turmoil.

Moody's cut Japan's government bond rating to Aa3 from Aa2. The new rating is three notches below Moody's top Aaa rating. It said the outlook for the rating is stable in a statement released early in the Asian financial day today.