...+ Japan-based capital goods and diversified electronics company Toshiba has made progress in reducing its debt and increasing its shareholders' equity, substantially improving its financial health. + We expect its financial standing to stabilize because both volatility in its earnings and the capital intensity of its main businesses, excluding its memory business, are relatively low. + We believe its financial standing is likely to improve further if it sells Toshiba Memory. + We are raising our long-term corporate credit rating and senior unsecured debt rating two notches to 'B' and are keeping them on CreditWatch with positive implications. + In resolving the CreditWatch placements, we will assess Toshiba's progress in selling its memory business. If it completes the sale, we will examine its financial policy, including shareholder returns and investment for growth, and the degree of improvement in its financial standing. Even if Toshiba were to review the planned sale of Toshiba Memory,...
