Moody's may raise Denka

Moody's Investors Service said it placed Denki Kagaku Kogyo Kabushiki Kaisha's (Denka) Ba1 senior unsecured long-term debt ratings under review for possible upgrade.

Moody's said the rating review reflects Moody's expectation that the company's overall credit fundamentals are likely to continue improving going forward, given its ongoing efforts to strengthen its business portfolio and improving capital structure.

In the review, Moody's said it will assess Denka's strategy to further strengthen and sustain its market position in each of its businesses, as well as further improve its profitability despite the ongoing hikes in fuel and material prices and the cyclical adjustment of the electronic products sector. The review will also focus on the company's investment policy for growth.

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