Fitch affirms Toshiba

Fitch Ratings said it affirmed Toshiba Corp.'s long-term foreign- and local-currency issuer default ratings, senior unsecured debt rating at BBB and its short-term foreign and local issuer default ratings at F2.

The outlook is stable.

The rating is based on Toshiba's leading market position in the global semiconductor market, especially in NAND flash memory and its strengthened position in the global nuclear power plant business, Fitch said.

Although both business segments have significant growth potential, there are additional inherent risks, the agency said. Fitch also said it takes into account Toshiba's increasing investment levels stemming from its aggressive growth strategy and uncertainties in its consumer electronics product lines.

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