Moody's rates Toshiba bond Baa2

Moody's Investors Service said it assigned a Baa2 rating to Toshiba Corp.'s series 47 ¥20 billion senior unsecured domestic straight bond due 2013.

The outlook is negative.

The rating reflects Toshiba's strong presence in the electronics industry, with a diversified customer base and wide range of products, ranging from PCs, mobile phones and HDD drives to NAND-type flash memories, power generation systems and medical devices, Moody's said.

The rating also takes into account the company's high leverage level, the agency said, and the volatile nature of the electronic devices business, which is one of the company's major business segments.

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