Sony (SNE) Slammed as Higher Q2 Sales Didn't Equal Higher Profit
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Moody's Puts Sony (SNE) Ratings on Review for Downgrade
November 1, 2013 9:13 AM EDTMoody's Japan K.K. has placed Sony Corporation's (NYSE: SNE) Baa3 long-term senior unsecured bond and issuer ratings and the Prime-3 short-term rating of its supported subsidiary, Sony Global Treasury Services Plc., on review for downgrade.
RATINGS RATIONALE
The rating actions reflect the slow progress being made in improving overall profitability. Weak earnings across the majority of reporting units suggests the potential for a much longer period of restructuring and financial weakness than previously expected.
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