Fitch Ratings maintained Japan’s sovereign credit rating with 'stable' outlook today. Fitch affirmed 'A' rating on long-term foreign and local currency Issuer Default Ratings. The outlooks on the ratings remained 'stable'. Key points By the end of 2016, gross general government debt is expected to reach 245 percent of GDP, the highest ratio of any rated sovereign. General government budget deficit to fall to 4.8% of GDP this year. The sales tax increase in April 2017 may yield 1 percentage point or so in FY 2018 GDP. For more information, read our latest forex news.