NTT announced May 8, 2025, that it will conduct a tender offer worth just under ¥2.4 trillion to make listed subsidiary NTT Data Group a wholly owned subsidiary. Funds for the tender offer will likely be raised through debt, with the negative financial impact greatly outweighing the potential positives for companywide operations. We therefore placed our issuer credit ratings on NTT on CreditWatch with negative implications. We would resolve the CreditWatch placement if we confirm the tender offer has concluded successfully; at the time of CreditWatch resolution, we are highly likely to lower the 'A' long-term issuer credit ratings by one to two notches. TOKYO (S&P Global Ratings) May 8, 2025--S&P Global Ratings today said it has placed on CreditWatch
