...March 28, 2023 - Toshiba announced its support for a tender offer planned by a special purpose company of Japan Industrial Partners; the deal would potentially lead to a material deterioration in its finances. - Toshiba's business performance and free cash flow for the next 12 to 18 months may be weaker than we previously expected amid the difficult economic environment. - We have placed our '##+' long-term issuer credit rating on Toshiba on CreditWatch with negative implications and affirmed the short-term rating. - We aim to resolve the CreditWatch placement after examining forecasts for performance and cash flow, progress of the tender offer, Toshiba's management and financial policies thereafter, and its dependence on debt. TOKYO (S&P Global Ratings) March 28, 2023--S&P Global Ratings today said it placed its '##+' long-term issuer credit rating on Toshiba Corp. on CreditWatch with negative implications. We also affirmed our short-term issuer credit and commercial program ratings at...
