Standard&Poor's expects Toshiba's profitability and cash flow adequacy to improve over the next 12-24 months. We are revising the outlook for Toshiba to stable from negative to reflect our view that the company's financial performance will improve. We are affirming all of our ratings on Toshiba. On May 29, 2014, Standard&Poor's Ratings Services revised the outlook on its 'BBB' long-term corporate credit rating on Japan-based diversified electronics company Toshiba Corp. to stable from negative. At the same time, we affirmed all our ratings on the company, including the 'A-2' short-term rating. We also affirmed all our ratings on Toshiba financial subsidiary Toshiba America Inc. The outlook revision reflects our view that lower exposure to commoditized hardware
