S&P changes Ricoh to stable

Standard & Poor's said it revised its outlook on its A long-term corporate credit rating on Ricoh Co. Ltd. to stable from negative.

At the same time, the agency affirmed all of its ratings on the company.

S&P said the outlook revision reflects improvements in Ricoh's operating performance and cash flow. It expects Ricoh's earnings to increase strongly in fiscal 2013 (ending March 31) thanks to a program of cost cuts including a reduction in its workforce, depreciation of the yen and improving corporate demand for office equipment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.