Toshiba Corp. Upgraded To 'BB' On Sale Of Toshiba Memory Corp.; Off CreditWatch; Outlook Positive

Key financial metrics for Toshiba, together with its liquidity, are likely to improve substantially following its receipt of about ¥2 trillion for the sale of Toshiba Memory, completed today. We are raising our long-term corporate credit and senior unsecured debt ratings on Toshiba three notches to 'BB' and are removing them from CreditWatch with positive implications. The positive outlook on the long-term corporate credit rating reflects our view of a more than one-in-three chance that Toshiba will recover its profitability by enhancing its main businesses and focusing on cost reductions. TOKYO (S&P Global Ratings) June 1, 2018--S&P Global Ratings today said it has raised three notches to 'BB' from 'B' its long-term corporate credit and senior unsecured debt ratings on

...+ Key financial metrics for Toshiba, together with its liquidity, are likely to improve substantially following its receipt of about Ñ2 trillion for the sale of Toshiba Memory, completed today. + We are raising our long-term corporate credit and senior unsecured debt ratings on Toshiba three notches to '##' and are removing them from CreditWatch with positive implications. + The positive outlook on the long-term corporate credit rating reflects our view of a more than one-in-three chance that Toshiba will recover its profitability by enhancing its main businesses and focusing on cost reductions. TOKYO (S&P Global Ratings) June 1, 2018--S&P Global Ratings today said it has raised three notches to '##' from 'B' its long-term corporate credit and senior unsecured debt ratings on Japan-based capital goods and diversified electronics company Toshiba Corp. We also removed the ratings from CreditWatch with positive implications. We have affirmed our 'B' short-term corporate credit and commercial...

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