TOKYO (Standard&Poor's) Jan. 30, 2009--Standard&Poor's Ratings Services today lowered to 'BBB' from 'BBB+' its long-term corporate credit and senior unsecured debt ratings on Toshiba Corp. The downgrade was based on the rapid decline in earnings from its Electronic Devices segment, due to the unfavorable performance of its semiconductor business, and the sharp deterioration in Toshiba's capital structure, due to significant net losses and increasing debt. At the same time, Standard&Poor's lowered its long-term corporate credit ratings on Toshiba's overseas financing subsidiaries (see list below) and affirmed the 'A-2' short-term and commercial paper program ratings on the company. The outlook on the long-term credit rating on Toshiba is negative. On Jan. 29, 2009, Toshiba revised
