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Yomiuri Shimbun file photo The headquarters of Toshiba Corp. in Minato Ward, Tokyo
The Yomiuri Shimbun
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.
