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July 8, 1993

CREDIT RATINGS

By CBR Staff Writer

Toshiba Corp is coming under renewed scrutiny by Moody’s Investors Service Inc, which says it is reviewing the double-A-3 senior unsecured debt ratings of Toshiba Corp and its financially supportedsubsidiaries, Toshiba America Inc and Toshiba International Finance (Netherlands) BV for possible downgrade, affecting about $2,100m of debt. It says the action reflects its concern that the current downward pressure on Toshiba’s earnings and free cash flow from its information communication systems, electronic devices and consumer products, may more than offset Moody’s expectations for improved strength in Toshiba’s heavy electrical gear.

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