“Panasonic Corp. (6752), the Japanese electronics maker facing a second straight annual loss, had its long-term credit rating cut to one level above junk by Moody’s Investors Service, which cited challenging market conditions.
The company’s long-term rating was lowered two levels to Baa3, the lowest among Moody’s 10 investment-level rankings. Panasonic’s Prime-3 short-term rating remains under review for possible reduction, according to a statement from Moody’s, which assigned a negative outlook for the long-term ranking.”
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