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Ratings On Toshiba Placed On CreditWatch Negative On Announcement Of Downward Revisions To Reported Profit

Published Jul 21, 2015

4 pages (1500 words) — Published Jul 21, 2015

Price US$ 150.00 | Buy this Report Now

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Abstract:

On July 20, 2015, Toshiba announced material downward revisions to its reported profits following a third-party investigative committee's findings concerning accounting irregularities at the company. The impact of the downward revisions on measures of Toshiba's cash flow/leverage may exceed tolerances for the current ratings. We are placing our long- and short-term ratings on Toshiba on CreditWatch with negative implications. We will remove the ratings from CreditWatch after confirming the revised financial statements for previous years and pending financial results for fiscal 2014 and examining our profit forecast for Toshiba for the next one to two years and its measures to improve management and governance. TOKYO (Standard&Poor's) July 21, 2015--Standard&Poor's Ratings Services today said that it has

Brief Excerpt:

...+ On July 20, 2015, Toshiba announced material downward revisions to its reported profits following a third-party investigative committee's findings concerning accounting irregularities at the company. + The impact of the downward revisions on measures of Toshiba's cash flow/leverage may exceed tolerances for the current ratings. + We are placing our long- and short-term ratings on Toshiba on CreditWatch with negative implications. + We will remove the ratings from CreditWatch after confirming the revised financial statements for previous years and pending financial results for fiscal 2014 and examining our profit forecast for Toshiba for the next one to two years and its measures to improve management and governance. TOKYO (Standard & Poor's) July 21, 2015--Standard & Poor's Ratings Services today said that it has placed its '###' long-term corporate credit and senior unsecured debt ratings and its 'A-2' short-term corporate credit and commercial paper ratings on Japan-based diversified...

Report Type:

Ratings Action

Ticker

6502@JP

Issuer

Toshiba Corp.

GICS

Industrial Conglomerates (20105010)

Sector

Global Issuers

Country

Japan

Region

United States

Format:

PDF

Research Update: Ratings On Japan's Toshiba Corp. Lowered To 'BBB-/A-3'; Outlook Negative – 2015/09/09 – US$ 225.00

Toshiba Corp. – 2015/12/18 – US$ 500.00

Summary: Toshiba Corp. – 2015/12/18 – US$ 225.00

Research Update: Toshiba Downgraded To 'BB+/B', 'BBB-' Senior Unsecured Debt Rating Affirmed; Long-Term Ratings On CreditWatch Negative – 2015/12/22 – US$ 225.00

Toshiba Long-Term Rating Lowered To 'B+', Senior Unsecured Debt Rating Lowered To 'BB'; Ratings Remain On Watch Negative – 2016/02/05 – US$ 150.00

Impact On Ratings On Toshiba To Be Determined After It Revises Past Results – 2015/05/14 – US$ 150.00

Toshiba Corp. – 2015/03/31 – US$ 500.00

Summary: Toshiba Corp. – 2015/03/31 – US$ 225.00

Outlook On Toshiba Revised To Stable To Reflect Recovering Profitability And Cash Flow Adequacy; Ratings Affirmed – 2014/05/29 – US$ 150.00

Research Update: Outlook On Toshiba Revised To Stable To Reflect Recovering Profitability And Cash Flow Adequacy; Ratings Affirmed – 2014/05/29 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Ratings On Toshiba Placed On CreditWatch Negative On Announcement Of Downward Revisions To Reported Profit" Jul 21, 2015. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Toshiba-Placed-On-CreditWatch-Negative-On-Announcement-Of-Downward-Revisions-To-Reported-Profit-1420925>

APA:	S&P Global Ratings’ Credit Research. (). Ratings On Toshiba Placed On CreditWatch Negative On Announcement Of Downward Revisions To Reported Profit Jul 21, 2015. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Toshiba-Placed-On-CreditWatch-Negative-On-Announcement-Of-Downward-Revisions-To-Reported-Profit-1420925>

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