Fitch ups Fujitsu to BBB+

Fitch Ratings said it upgraded Fujitsu Ltd.'s long-term foreign- and local-currency issuer default ratings to BBB+ from BBB, along with its senior unsecured debt rating to BBB+ from BBB. The company's short-term foreign- and local-currency issuer default ratings were affirmed at F2.

The outlook is stable.

The upgrade reflects an expectation that Fujitsu's operating performance will become more stable as the company concentrates management resources on its software/service businesses, where it has competitive strengths both in the domestic and overseas markets, Fitch said.

The agency also noted the improvement in Fujitsu's financial profile since 2006 when the agency revised its outlook to positive.

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