...+ We see a heightened likelihood Toshiba will face difficulties in continuously fulfilling its financial commitments in the long term because substantial erosion in shareholders' equity in the third quarter (ended Dec. 31, 2016) is likely to be inevitable amid growing prospects that the company will incur massive losses in its nuclear power business. + We are lowering by one notch both our long- and short-term corporate credit ratings on Toshiba to '###+' and 'C', respectively. We are also lowering our senior unsecured debt rating on Toshiba to 'B-' from 'B+'. + The long- and short-term ratings remain on CreditWatch with negative implications to reflect our view that Toshiba is likely to need more time to compile a restructuring plan, which would include streamlining its businesses and support from creditor banks, creating high uncertainties. + If we see a heightened likelihood of banks providing support in a form we define as '##' (selective default), we might further downgrade Toshiba...
