Michael Randall
Toshiba said on Friday it intended to split into three companies that would be responsible for infrastructure solutions, electronic devices and hold stakes in other corporations. The process is expected to be completed in the second half of fiscal 2023 (October 2023 to March 2024 calendar year).
"The placement (of the rating) on the downgrade review list is based on our pessimistic view of Toshiba's announcement of its intention to spin off two businesses (into separate entities - editor's note) in the second half of fiscal 2023," S&P explains.
The agency notes the need to examine the extent to which the separation would weaken the production base, competitiveness and cash flow generation.
S&P intends to withdraw the rating from the list for review after examining the details of the separation of companies and during the implementation of this process.
source: bloomberg.com
"The placement (of the rating) on the downgrade review list is based on our pessimistic view of Toshiba's announcement of its intention to spin off two businesses (into separate entities - editor's note) in the second half of fiscal 2023," S&P explains.
The agency notes the need to examine the extent to which the separation would weaken the production base, competitiveness and cash flow generation.
S&P intends to withdraw the rating from the list for review after examining the details of the separation of companies and during the implementation of this process.
source: bloomberg.com
