Moody's: Hitachi view to stable

Moody's Investors Service said it changed the outlook for the A3 long-term debt ratings of Hitachi, Ltd. to stable from negative.

The change in outlook reflects a view that Hitachi's overall credit metrics will continue to improve, given the company's recovered profitability and improved business portfolio, Moody's said.

The agency noted that Hitachi expanded its overseas business by 16% in the first six months of 2011 as a result of sales growth in the emerging economies, such as China and other Asian countries.

Moody's said it believes that Hitachi can maintain its recovered profitability, given its improved cost structure.

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