“Sony Corp. (6758), reeling from four straight annual losses, had its credit rating lowered one level by Standard & Poor’s because of concerns about an earnings recovery by the Japanese consumer-electronics maker.
The company’s long-term ratings were lowered to BBB, S&P’s second-lowest investment grade, from BBB+, the ratings company said in a statement today. The outlook was set at negative, reflecting a view that ratings may be cut again in the absence of “solid signs of recovery” in Sony’s credit quality within a year, S&P said.”
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