Article Image
News Link • Economy - International

Fitch cuts Sony, Panasonic debt ratings to "junk" status

• .

Ratings agency Fitch downgraded the debt ratings of Japan's Sony Corp and Panasonic Corp to "junk" status citing weakness in their consumer electronics and TV operations, further diminishing the luster of the once-great Japanese brands.

The cut to below investment grade, the first by a ratings firm, comes as the floundering Japanese tech giants face weak demand and fierce competition from Apple Inc and Samsung Electronics.

Join us on our Social Networks:


Share this page with your friends on your favorite social network: