Tokyo -- Standard & Poor's CreditWire 1/29/98 -- Standard & Poor's today lowered the short-term ratings of Mitsubishi Electric Corp. and its related entities, Mitsubishi Electric Finance America Inc. and Mitsubishi Electric Finance (U.K.) PLC, to 'A-2' from 'A-1'. The rating downgrade reflects significant deterioration in Mitsubishi Electric's earnings brought about by mounting strains on the competitiveness of the company's semiconductor and consumer electronics operations. These factors are expected to elevate the company's debt leverage to a moderately aggressive level. Mitsubishi Electric's semiconductor operations have been hard hit by sizable losses, reflecting both a drastic downturn in global markets as well as the company's weakened position in these markets. Meanwhile, consumer electronics businesses have suffered setbacks in overseas markets for
