Moody's may cut Panasonic

Moody's Investors Service said it placed on review for downgrade its Baa1 long-term senior unsecured bond and issuer ratings of Panasonic Corp., as well as the provisional Baa1 rating of Panasonic's shelf registration.

At the same time, Moody's said it also placed on review for downgrade the Prime-2 short-term ratings of Panasonic's supported subsidiaries, Panasonic Finance (America) Inc. and Panasonic Finance (Europe) plc.

The agency said the rating action reflects Moody's increasing concern that sluggish demand and intense competition will continue to pressure Panasonic's earnings and leverage.

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