Toshiba 'CCC-/C' Ratings Affirmed, Off Watch; Senior Debt Raised To 'CCC-', Off UCO On Updated Issue Rating Criteria - S&P Global Ratings’ Credit Research

Toshiba 'CCC-/C' Ratings Affirmed, Off Watch; Senior Debt Raised To 'CCC-', Off UCO On Updated Issue Rating Criteria

Toshiba 'CCC-/C' Ratings Affirmed, Off Watch; Senior Debt Raised To 'CCC-', Off UCO On Updated Issue Rating Criteria - S&P Global Ratings’ Credit Research
Toshiba 'CCC-/C' Ratings Affirmed, Off Watch; Senior Debt Raised To 'CCC-', Off UCO On Updated Issue Rating Criteria
Published Oct 03, 2017
5 pages (2251 words) — Published Oct 03, 2017
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Toshiba on Sept. 28, 2017, entered an agreement to sell its shares in Toshiba Memory Corp., which we consider a step forward in the company's plan to resolve its insolvency through the sale of Toshiba Memory for about ¥2 trillion by the end of March 2018. In addition, potential risk of additional losses and financial burdens from its U.S. nuclear power business has declined, resulting in lowered risk of a surge of pressure on the ratings, in our view. We are affirming our long- and short-term ratings on Toshiba and are removing them from CreditWatch with negative implications. The negative outlook reflects our view that there is a risk of failure to complete a sale of Toshiba Memory by March

  
Brief Excerpt:

...+ Toshiba on Sept. 28, 2017, entered an agreement to sell its shares in Toshiba Memory Corp., which we consider a step forward in the company's plan to resolve its insolvency through the sale of Toshiba Memory for about Ñ2 trillion by the end of March 2018. + In addition, potential risk of additional losses and financial burdens from its U.S. nuclear power business has declined, resulting in lowered risk of a surge of pressure on the ratings, in our view. + We are affirming our long- and short-term ratings on Toshiba and are removing them from CreditWatch with negative implications. + The negative outlook reflects our view that there is a risk of failure to complete a sale of Toshiba Memory by March 31, 2018, if the countries concerned take longer to review the sale in accordance with their antitrust laws or if the International Court of Arbitration decides to block the sale of joint venture interests. + We are raising our senior unsecured debt rating on Toshiba one notch to '###-' and...

  
Report Type:

Ratings Action

Ticker
6502@JP
Issuer
GICS
Industrial Conglomerates (20105010)
Sector
Global Issuers
Country
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Toshiba 'CCC-/C' Ratings Affirmed, Off Watch; Senior Debt Raised To 'CCC-', Off UCO On Updated Issue Rating Criteria" Oct 03, 2017. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Toshiba-CCC-C-Ratings-Affirmed-Off-Watch-Senior-Debt-Raised-To-CCC-Off-UCO-On-Updated-Issue-Rating-Criteria-1924933>
  
APA:
S&P Global Ratings’ Credit Research. (). Toshiba 'CCC-/C' Ratings Affirmed, Off Watch; Senior Debt Raised To 'CCC-', Off UCO On Updated Issue Rating Criteria Oct 03, 2017. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Toshiba-CCC-C-Ratings-Affirmed-Off-Watch-Senior-Debt-Raised-To-CCC-Off-UCO-On-Updated-Issue-Rating-Criteria-1924933>
  
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