S&P raises Japan's Matsushita Elec, Mitsubishi Elec, Fujitsu ratings |
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Published
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Fri, 09 Feb 2007 10:27
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TOKYO (XFN-ASIA) - Standard & Poor's Ratings Services said it has raised its long- and short-term corporate credit ratings on Matsushita Electric Industrial and its affiliate Panasonic Finance (America) Inc to 'AA-/A-1+' from 'A+/A-1', with the outlook on the long-term ratings stable.S&P also lifted the long- and short-term ratings on Mitsubishi Electric to 'A-/A-1' from 'BBB+/A-2', with the long-term rating positive.The long-term rating on Fujitsu has been raised to 'BBB+' from 'BBB', with the outlook positive, the rating agency said in a written statement.S&P said the upgrades are based on 'improving profitability and stable cash flow generation due to stronger competitiveness and earnings structures, despite a challenging operating environment,' and 'the improvement in each company's financial profile.'(1usd = 121.42 yen)kaori.kaneko@xfn.com
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