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Prospect News home > News index > List of issuers S > Headlines for Sojitz Corp. > News item
Published on 10/29/2004 in the Prospect News Distressed Debt Daily and Prospect News High Yield Daily.

S&P adjusts Sojitz rating

Standard & Poor's said it lowered its long-term corporate credit rating on Sojitz Corp. to SD from CC and immediately assigned a new B+ corporate credit rating on the company. The outlook is stable.

At the same time, the rating on Sojitz' senior unsecured bonds was affirmed at BB.

S&P said the ratings actions followed the completion of a capital injection of ¥370 billion mainly through a debt-for-equity swap by key creditor banks on Friday.


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