Moody's cuts Ricoh Finance

Moody's Investors Service said it downgraded its long-term rating of Ricoh Finance Nederland BV to (P)A3 from (P)A1 and short-term rating to Prime-2 from Prime-1.

At the same time, Moody's said it confirmed the Prime-1 short-term rating of Ricoh Finance Corp.

The outlook on both companies is negative.

Moody's said the rating action reflects its growing expectation that Ricoh will take longer than expected to recover a level of profitability and financial profile suitable for the previous rating level, given the difficult economic circumstances in its primary markets.

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