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Moody's Investors Service cut the rating on Japan's government debt by one notch to Aa3, its fourth-highest rating, blaming large budget deficits and the build-up of debt.
Moody's Investors Service said it may downgrade the debt ratings of Bank of America Corp, Citigroup Inc and Wells Fargo & Co, citing concerns about waning political willingness to offer support for the largest U.S. banks.