Moody's affirms NEC's Baa2 rating; revises outlook to negative
Tokyo, February 03, 2017-- Moody's Japan K.K. has affirmed NEC Corporation's Baa2 issuer and senior unsecured debt ratings, as well as its P-2 Commercial Paper rating. At the same time, Moody's has changed the ratings outlook to negative from stable. "The change in outlook to negative mainly reflects Moody's concerns over NEC's ability to execute its business plan, and the increased uncertainty regarding its ability to generate sustainable earnings appropriate for a Baa2 rating...NEC is the parent company of a group engaged in the manufacture and sale of computers, software, communications equipment, and electric devices. Co. operates in four business segments: public, enterprise, telecom carrier, and system platform. Co. supplies integration, maintenance and support, and outsourcing services and system equipment for government, public and enterprises; network infrastructure to telecom carriers; hardware such as servers and mainframes, software, enterprise networks solutions. In addition, Co. also provides smart energy such as electrodes and energy storage systems, as well as smartphones, mobile phones, "BIGLOBE" Internet services and lighting equipment.
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