Masashi Muromachi

Last week, Moody’s Investors Service announced that it was cutting Toshiba Corp.’s long-term senior bond rating to Ba2, or “junk” status. Considering recent reports from Toshiba, a major industry player that is stumbling in the wake of a scandalous accounting misstep reported earlier this year, the move from the rating service makes sense. But the headline about a brand that was once one of the most admired companies in Japan, and a worldwide industrial and electronics powerhouse for many years, is stunning nonetheless.

There is even more from Moody’s, who changed other ratings as well… [Read more…] about Toshiba Credit Rating Cut to ‘Junk’ Status by Moody’s