S&P: Itochu view to positive

S&P said it revised the outlook on Itochu Corp. to positive from stable.

The agency also said it affirmed the company's A- long-term corporate credit rating and senior unsecured ratings on the company, as well as the A-2 short-term corporate credit rating.

The outlook revision reflects a view that the company will achieve higher profits than most peers for the next one- to two-years despite risks of currency fluctuations and cloudy prospects for its overseas operating environment, S&P said.

The outlook revision also considers a stronger view of the company's ability to maintain its conservative investment policy and financial discipline, which would further improve its capital adequacy, the agency said.

Itochu has posted greater net profit than most of its peers for the past several years despite a difficult business environment for general trading and investment companies, S&P said.

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