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UPDATE 1-S&P revises Japan's outlook to positive from stable

(Changes sourcing, adds details)

April 13 (Reuters) - S&P Global Ratings on Friday revised Japan's outlook to 'positive' from 'stable' as the country's stronger economy sets the stage for fiscal improvement.

Japan's formidable external position, its prosperous and strengthening economy, and the yen's role as a global reserve currency offset weak public finances and adverse demographics, S&P Global Ratings said in a statement. http://bit.ly/2IQfgKM

S&P Global Ratings affirmed its 'A+' long-term and 'A-1' short-term foreign and local currency unsolicited sovereign credit ratings on Japan.

The positive outlook on the long-term rating reflects Japan's healthier growth prospects in both real and nominal terms, the rating agency said. (Reporting by Subrat Patnaik in Bengaluru; Editing by Gopakumar Warrier)