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Moody's changes Hitachi view to stable
Moody's Investors Service said it affirmed Hitachi, Ltd.'s A3 senior unsecured rating and changed the outlook to stable from negative.
"The change to a stable outlook reflects Hitachi's successful execution on its plan to divest non-core assets and applying those proceeds to lower leverage," said Roman Schorr, a Moody's vice president and senior analyst, in a press release.
Moody’s said it forecast Hitachi’s debt to EBITDA will decline to around 2.5x at the end of fiscal 2022 from 3x at the end of fiscal 2020.
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