Moody's downgrades Toshiba Corp to Caa1; ratings on review for further downgrade
Tokyo, December 28, 2016-- Moody's Japan K.K. has downgraded Toshiba Corporation's corporate family rating and senior unsecured rating to Caa1 from B3. Moody's has also downgraded Toshiba's subordinated debt rating to Ca from Caa3, and affirmed its commercial paper rating of Not Prime. At the same time, Moody's has placed Toshiba's Caa1 CFR and long-term senior unsecured bond rating, as well as its Ca subordinated debt rating under review for further downgrade.
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