Toshiba Corp. Ratings To Be Reviewed Upon Conclusion Of An Official Contract For The Sale Of Toshiba Memory Corp.

TOKYO (S&P Global Ratings) Sept. 1, 2017--Japan-based capital goods and diversified electronics company Toshiba Corp. ('CCC-/Watch Negative/C') has been in negotiation to sell Toshiba Memory Corp., a subsidiary conducting NAND flash memory business, as it pursues a business recovery. Following media reports that Toshiba will give U.S.-based computer data storage company Western Digital Corp. an exclusive right to acquire the subsidiary, Toshiba has announced that no official decision has been made. All our credit ratings on Toshiba are currently on CreditWatch with negative implications. If Toshiba successfully reaches an agreement and concludes an official contract to sell its semiconductor business in a month or so, as reported, S&P Global Ratings will examine the detail of the agreement and review our

...TOKYO (S&P Global Ratings) Sept. 1, 2017--Japan-based capital goods and diversified electronics company Toshiba Corp. ('###-/Watch Negative/C') has been in negotiation to sell Toshiba Memory Corp., a subsidiary conducting NAND flash memory business, as it pursues a business recovery. Following media reports that Toshiba will give U.S.-based computer data storage company Western Digital Corp. an exclusive right to acquire the subsidiary, Toshiba has announced that no official decision has been made. All our credit ratings on Toshiba are currently on CreditWatch with negative implications. If Toshiba successfully reaches an agreement and concludes an official contract to sell its semiconductor business in a month or so, as reported, S&P Global Ratings will examine the detail of the agreement and review our ratings on Toshiba along with the CreditWatch placements. The reported planned sale of Toshiba Memory Corp. for around Ñ2 trillion could enable the company to significantly reduce its debt...

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