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ITOCHU Corporation: Update to credit analysis

Our credit view of this issuer reflects its business portfolio, constrained by its JTC business model of financing most investments with bank loans.

Moody's Ratings announces completion of a periodic review of ratings o...

Moody's Ratings (Moody's) has completed a periodic review of the ratings of ITOCHU Corporation and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 17 July 2024 in which we reassessed the appropriateness of the ratings in the context of...

ITOCHU Corporation: Update to credit analysis

Our credit view of ITOCHU reflects its well-diversified business portfolio against its business model of financing investments with debt.

ITOCHU Corporation: Update to credit analysis

Our credit view of ITOCHU Corporation reflects its leverage reduction and its relatively stable business portfolio, against its business model of financing most investments with bank loans.

ITOCHU Corporation: Update to credit analysis

Our credit view of ITOCHU reflects a track record of leverage reduction and its diversified business portfolio, against its JTC business model of financing most investments with loans.

ITOCHU Corporation: Update following change in outlook to positive fro...

Our credit view of ITOCHU reflects our expectation that the company will continue to demonstrate some of the strongest credit metrics among the Japanese trading companies we rate.

ITOCHU Corporation: Update to credit analysis

Our credit view of ITOCHU reflects its conservative financial policy, against its Japanese trading company business model of financing most investments with bank loans.

ITOCHU Corporation: Update to credit analysis

Our credit view of ITOCHU, reflecting its acquisition of FamilyMart, balanced against its Japanese trading company business model of financing most investments with bank loans.

ITOCHU Corporation: Update to credit analysis

Our credit view of ITOCHU Corporation, reflecting our expectation of an increase in leverage from the buyout of the FamilyMart convenience store chain, which will likely close by March 2021.

ITOCHU Corporation: ITOCHU's tender offer for FamilyMart is credit neg...

The offer to take FamilyMart private is credit negative because it will increase ITOCHU's leverage.

Moody's: ITOCHU's takeover of FamilyMart is credit negative; no rating...

Announcement: Moody's: ITOCHU's takeover of FamilyMart is credit negative; no ratings impact. Global Credit Research- 09 Jul 2020. Tokyo, July 09, 2020-- Moody's Japan K.K. says that ITOCHU Corporation's tender offer bid to take private the convenience store chain FamilyMart Co., Ltd. is credit negative, because it will increase its leverage, although the overall impact on its metrics should be manageable.

ITOCHU Corporation: Update to credit analysis

Our credit view of ITOCHU Corporation, reflecting its track record of stable cash flow generation and deleveraging.

ITOCHU Corporation: Update to credit analysis

Our credit view of ITOCHU Corporation, reflecting its track record of stable cash flow generation and deleveraging.

ITOCHU Corporation: Update to credit analysis

Our credit view of ITOCHU, reflecting its track record of stable cash flow generation and its recent deleveraging trend.

ITOCHU Corporation: Increase in shareholder returns will not impact le...

Based on Japanese trading company ITOCHU's commitment to maintain positive free cash flow after shareholder returns, we do not expect its leverage will deteriorate.

ITOCHU Corporation: Update to credit analysis

Our credit view of ITOCHU, reflecting its track record of stable cash flow generation and its recent deleveraging trend.

Moody's: ITOCHU's plan to raise stake in FamilyMart UNY will not impac...

Moody's Japan K.K. says that ITOCHU Corporation's (A3, stable) announcement of a planned tender offer for FamilyMart UNY Holdings Co., Ltd. stock has no impact on its rating or outlook. On 19 April, ITOCHU announced that it plans to increase its stake in FamilyMart UNY Holdings, which ...

ITOCHU Corporation: Update to credit analysis - Stable cash flow provi...

Our credit view of ITOCHU, reflecting its track record of stable cash flow generation and recent deleveraging trend.

ITOCHU Corporation: Update to credit analysis - Stable cash flow provi...

Our credit view of ITOCHU, reflecting its track record of stable cash flow generation and recent deleveraging trend.

Please Change Name Masako Kuwahara
  • Please Change Name Masako Kuwahara

Moody's upgrades ITOCHU to A3; outlook stable

Rating Action: Moody's upgrades ITOCHU to A3; outlook stable. Global Credit Research- 30 Nov 2017. Tokyo, November 30, 2017-- Moody's Japan K.K. has upgraded ITOCHU Corporation's issuer rating to A3 from Baa1 and affirmed its Prime-2 Commercial Paper rating.

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