Moody's ups Fujitsu to A3

Moody's Investors Service said it upgraded to A3 from Baa1 the senior unsecured long-term debt ratings of Fujitsu Ltd. and its supported subsidiary, Fujitsu EMEA plc.

The outlook is positive.

The upgrade reflects ongoing improvements in Fujitsu's earnings base stemming from the company's growing focus on the technology solutions business, Fitch said, as well as improvements in financial leverage resulting from continuing debt reduction. This concludes a review initiated in August.

The positive outlook is based on an expectation that Fujitsu may be able to further strengthen its overall profitability while maintaining its financial position over the medium term, the agency added.

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