Fitch affirms Sanyo Electric

Fitch Ratings said it affirmed the BB+ long-term foreign- and local-currency issuer default and senior unsecured ratings on Sanyo Electric Co., Ltd.

The outlook remains stable.

The affirmations follow Sanyo's latest downward revision of its forecast for the fiscal year ending March 2007, reflecting the difficulty of its operating environment, the need for additional restructuring activities and the recent recall of its rechargeable batteries.

Fitch said Sanyo's revised forecast is in line with the agency's expectation for the company at the time of assigning the current ratings. The agency said it will closely monitor the development of these matters and the effect on Sanyo's credit profile going forward.

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