TOKYO (Standard&Poor's) April 9, 2008--Standard&Poor's Ratings Services today raised its long-term corporate credit rating on Mitsubishi Electric Corp. by one notch to 'A' from 'A-' based on prospects that the company will continue to make progress in reducing its debt using its free cash flow. At the same time, Standard&Poor's affirmed its 'A-1' short-term corporate credit rating on the company, as well as its 'A-1' rating on Mitsubishi Electric's Japanese commercial paper program. The outlook on the long-term credit rating is stable. "Through successful corporate restructuring, Mitsubishi Electric has strengthened its earnings base, which will enable the company's profitability and cash flow to remain resilient to deteriorating external conditions," said Standard&Poor's credit
