S&P ups Toshiba view to stable

Standard & Poor's said it revised to stable from negative on Toshiba Corp.

The agency also said it affirmed its long-term corporate credit rating at BBB, senior secured debt ratings at BBB and short-term corporate credit rating at A-2.

The likelihood of the company's financial base deteriorating in the next one to two years has decreased, which led to the outlook revision, S&P said.

A substantial downside risk to the financial performance of the company's electronic devices segment, which posted operating losses for the second consecutive year, has been reduced, thanks to recovering markets, mainly in NAND flash memory, Toshiba's core product, the agency said.

© 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.