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Japan's Sharp Downgraded To 'BBB+'; Short-Term Rating Affirmed At 'A-2'; Outlook Negative Feb 12
Standard & Poors, February 2012
Much larger than expected losses for fiscal 2011 have lowered the likelihood that Sharp will restore its financial soundness in the near term. Standard & Poor's lowered its long-term corporate credit rating on Sharp a notch to 'BBB+'. The outlook is negative, reflecting our view that the earnings environment for Sharp's main businesses will remain harsh. TOKYO (Standard & Poor's) Feb. 3, 2012--Standard & Poor's Ratings Services today lowered its long-term corporate credit and senior unsecured debt ratings on Sharp Corp. one notch to 'BBB+' from 'A-'. We base this action on our view that steep price cuts for Sharp's main products and the protracted strength of the yen have diminished the company's earnings. We believe it is inevitable that...
Companies mentioned in this report are: Sharp Corp.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.