S&P lifts Toshiba to stable

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

The agency also said it affirmed the company's BBB long-term corporate credit rating and A-2 short-term rating.

The agency also said it affirmed the ratings on Toshiba's financial subsidiary, Toshiba America Inc.

The outlook revision reflects the company's lower exposure to commoditized hardware products due to a restructuring and still its strong profitability from NAND flash memory, S&P said.

The stable outlook also reflects the company's improving power generation business and continuously prudent capital spending, which will strengthen its profitability, 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.