## Japan - BB

Debt/GDP = 2,08 (208%)
Accumulated deficit for last 5 years/budget income for last 5 years = 0,13
Years since last default = 60 (1952 last default)
5-year inflation = -0,01 (-1% - this is a deflaton)
Budget expences/GDP = 0,42
World GDP per capita/Country GDP per capita = 0,19
Political factor = 0
Crisis factor = 0,5 (recent disaster)
Other unique factors = 1

OVERALL CREDIT SCORE: 0,734 (73,4%). This responds to BB.

Calculated with this (new) formula:

r = 10/{[1+(debt/GDP)] + [1+10*(accumulated deficit for last 5 years/budget income for last 5 years)] + [1 + (10/years since last default)] + [1+3*(accumulated of last 5 years inflation)] + [1+(budget expences/GDP)] + [1+ 10* (trade deficit/GDP)] + [world's GDP per capita/country's GDP per capita] + [1+political factor] + [1+crisis factor] + [Other unique factors]}

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The rating, calculated with the old formula:

Debt/GDP = 2,25 (225%)
Accumulated deficit for last 5 years/budget income for last 5 years = 0,14
Years since last default = 60 (1952 last default)
5-year inflation = -0,01 (-1%)
Budget expences/GDP = 0,30