Fitch: Panasonic outlook positive

Fitch Ratings said it has affirmed Panasonic Corp.'s long-term foreign- and local-currency issuer default ratings of BBB-. The outlook has been revised to positive from stable.

According to the agency, the outlook revision reflects Fitch's expectations that Panasonic's streamlined business structure and coherent strategy would further strengthen its profitability and cash generation over the medium term.

The company's restructuring efforts have supported the profitability of core businesses and trimmed losses in struggling businesses, the agency added.

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