...May 18, 2022 - Mitsubishi Electric's consolidated profitability is likely to recover slower than we assumed because of soaring materials prices and parts shortages. - We revised to negative from stable the outlook on our long-term issuer credit rating on the company. - We affirmed the ratings because of the company's low-but-stable profitability and very sound finances even as it ramps up growth investments. TOKYO (S&P Global Ratings) May 18, 2022--S&P Global Ratings today said it has revised to negative from stable the outlook on its long-term issuer credit rating on Mitsubishi Electric Corp., one of Japan's largest diversified capital goods companies. We affirmed the 'A+' long-term issuer credit rating and 'A-1' short-term issuer credit rating and the 'A-1' issue credit rating on its commercial paper program. We revised the outlook because the company's consolidated profitability is likely to take more time to recover than we assumed. Soaring materials prices and logistics costs, and...
