Tokyo -- Standard&Poor's CreditWire 12/22/1998 -- Standard&Poor's today lowered its long-term ratings of Toshiba Corp. and related entities to triple-'B'-plus from single-'A' minus, and affirmed its 'A-2' short-term ratings (see list). At the same time, the ratings were removed from CreditWatch where they were placed on Sept. 29, 1998. The downgrade reflects concerns that adverse conditions in domestic and overseas markets will impede Toshiba's progress towards achieving more satisfactory financial performance levels. These concerns are mitigated in part by the company's high degree of business diversity. While performance in information/communication systems has been favorable, this segment remains vulnerable to fluctuating demand in the global PC market. Profitability in other business areas has been relatively weak. Electronic
