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S&P affirms Toshiba ratings
S&P Global Ratings said it affirmed its B long-term corporate credit and BB- senior unsecured debt ratings on Toshiba Corp. S&P affirmed the B short-term corporate credit and commercial paper ratings on Toshiba.
The outlook on the long-term ratings remains negative.
Toshiba achieved an operating profit for the first time in two years in the first half of fiscal 2016, making a ¥96.8 billion profit compared with a ¥89.1 billion operating loss a year earlier, thanks to strong sales of mainstay flash memory in its storage business, S&P said in a news release. The company revised upward its operating profit forecast for the entire fiscal 2016 to ¥180 billion from ¥120 billion.
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