Toshiba's equity has recovered to a certain extent as a result of a capital increase, and the company's recent financial deterioration is likely to decelerate due to progress in its business restructuring. Standard&Poor's affirmed its long- and short-term ratings on Toshiba and removed them from CreditWatch. The negative outlook is based on our view that Toshiba's financial profile remains weak and that profits may take longer to recover than the company's own expectations, given the severe business environment, especially in the Electronic Devices&Components segment. TOKYO (Standard&Poor's) Aug. 7, 2009--Standard&Poor's Ratings Services today affirmed its 'BBB' long-term and 'A-2' short-term corporate credit ratings on Toshiba Corp. and removed the ratings from CreditWatch with
