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Off Brand: Sony no longer a “junk company”, Moody’s says


Nikkei Asian Review reports:

TOKYO — Moody’s Japan has put Sony’s credit rating back up to investment grade, it announced on Tuesday.

The Japanese electronics maker’s credit rating was upgraded to Baa3, up one notch from the “junk” status of Ba1. Moody’s has also changed the ratings outlook to stable from positive.

“The positive rating action which reverts Sony’s rating to investment grade, reflects principally that the company’s financial profile has been dramatically repaired,” Masako Kuwahara, Moody’s vice president and senior analyst said in a press release. Read the article…

Moody’s also expects more good news from Sony as the company is “setting aside one-off factors — such as [the] Kumamoto earthquake“.

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