Toshiba Downgraded To 'B+' On Likely Financial Deterioration; Outlook Stable - S&P Global Ratings’ Credit Research

Toshiba Downgraded To 'B+' On Likely Financial Deterioration; Outlook Stable

Toshiba Downgraded To 'B+' On Likely Financial Deterioration; Outlook Stable - S&P Global Ratings’ Credit Research
Toshiba Downgraded To 'B+' On Likely Financial Deterioration; Outlook Stable
Published Dec 26, 2023
5 pages (2167 words) — Published Dec 26, 2023
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Toshiba's business operations will be conducted with high financial leverage under JIP, which S&P Global Ratings considers a financial sponsor. Toshiba's financial profile will likely deteriorate materially as it is obliged to repay debt raised to finance the acquisition by an SPC established by JIP. It will recover only gradually in the next one to two years. We lowered our long-term issuer credit rating by one notch to 'B+' and removed the rating from CreditWatch. We affirmed our 'B' short-term rating on the company. The outlook is stable, reflecting relatively stable earnings from its core businesses and prospects for a moderate recovery of its financial profile in the next year or two. TOKYO (S&P Global Ratings) Dec. 26, 2023--S&P Global

  
Brief Excerpt:

...December 26, 2023 - Toshiba's business operations will be conducted with high financial leverage under JIP, which S&P Global Ratings considers a financial sponsor. - Toshiba's financial profile will likely deteriorate materially as it is obliged to repay debt raised to finance the acquisition by an SPC established by JIP. It will recover only gradually in the next one to two years. - We lowered our long-term issuer credit rating by one notch to 'B+' and removed the rating from CreditWatch. We affirmed our 'B' short-term rating on the company. - The outlook is stable, reflecting relatively stable earnings from its core businesses and prospects for a moderate recovery of its financial profile in the next year or two. TOKYO (S&P Global Ratings) Dec. 26, 2023--S&P Global Ratings today lowered its long-term issuer credit rating on Toshiba Corp. by one notch to 'B+' and removed the rating from CreditWatch. We affirmed our 'B' short-term issuer credit rating and our 'B' commercial paper program...

  
Report Type:

Ratings Action

Ticker
6502@JP
Issuer
Toshiba Corp.
GICS
Industrial Conglomerates (20105010)
Sector
Global Issuers
Country
Japan
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Toshiba Downgraded To 'B+' On Likely Financial Deterioration; Outlook Stable" Dec 26, 2023. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Toshiba-Downgraded-To-B-On-Likely-Financial-Deterioration-Outlook-Stable-3105755>
  
APA:
S&P Global Ratings’ Credit Research. (). Toshiba Downgraded To 'B+' On Likely Financial Deterioration; Outlook Stable Dec 26, 2023. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Toshiba-Downgraded-To-B-On-Likely-Financial-Deterioration-Outlook-Stable-3105755>
  
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