Toshiba Downgraded 2 Notches to BB-Minus by S&P; Ratings Firm Cites Debt to Japan Industrial Partners
1:00 JST, September 27, 2023
Toshiba Corp’s long-term rating was downgraded by two notches to BB-minus by S&P Global Ratings, the rating agency announced Monday.
Earlier in September, a tender offer for Toshiba by a consortium led by a private equity firm, Japan Industrial Partners, ended in success. S&P said that Toshiba would likely be obligated to repay the consortium’s acquisition funds raised through loans, which would significantly worsen Toshiba’s financial situation.
"Business" POPULAR ARTICLE
-
Weakening Yen Adds Complexity to BOJ’s Rate Hike Decisions; Rising Commodity Prices may Impact ‘Virtuous Cycle’ Efforts
-
70% of Japan Companies to Raise Pay Scales in FY 2024
-
Core Consumer Prices Rise 2.8% in Fiscal 2023
-
BOJ Maintains Interest Rate at Current 0%-0.1%
-
Shinkansen to Have Private Rooms by FY 2026, JR Tokai Announces
JN ACCESS RANKING
- Weakening Yen Adds Complexity to BOJ’s Rate Hike Decisions; Rising Commodity Prices may Impact ‘Virtuous Cycle’ Efforts
- 70% of Japan Companies to Raise Pay Scales in FY 2024
- Core Consumer Prices Rise 2.8% in Fiscal 2023
- U.S. 7th Fleet officer Arrested on Suspicion of Stealing Sushi, Sashimi, Chicken at Kanagawa Shopping Mall; Suspect Caught Mid-Meal
- UNRWA Director Describes Catastrophic Destruction in Gaza; Says Relief Trucks Robbed, ‘People’s Hearts Destroyed’