<h1>Japanese agency upgrades sovereign long-term rating to BBB+ stable, third upgrade citing fiscal consolidation and improved external stability</h1> A Japanese credit rating agency upgraded the sovereign long-term rating to BBB+ with a stable outlook, marking the third upgrade this year after two other international agencies raised ratings earlier. The agency cited strong macroeconomic fundamentals, fiscal consolidation driven by higher tax revenues and subsidy rationalization, manageable public debt, strengthened external stability and limited financial-system risks. It noted policy measures to attract manufacturing, improve infrastructure and legal frameworks, and reduce energy import dependence, while flagging external tariff risks and potential GST rationalisation revenue losses that may be partially offset by higher private consumption.