...June 9, 2023 - Sharp's profitability has significantly worsened and faces higher volatility because of the return of the large LCD panel business to its portfolio. - Cash flow is likely to recover only moderately, meaning related metrics should remain deteriorated in the next one to two years. - We lowered our long-term rating on Sharp by one notch to 'B+' and affirmed our short-term rating at 'B'. - The negative outlook reflects our view that any recovery of performance for Sharp, especially in the large LCD panel business, is likely to be weak. TOKYO (S&P Global Ratings) June 9, 2023--S&P Global Ratings today said that it has lowered to 'B+' from '##-' its long-term issuer credit rating on Sharp Corp. The outlook on the Japan-based electronics maker is negative. Meanwhile, we affirmed our 'B' short-term issuer credit and commercial paper program ratings. At the same time, we took similar actions on an overseas Sharp subsidiary (see the list below). We downgraded Sharp because we believe...
