|
|
Article: R&I cuts Hitachi Cable's outlook to "negative".
- Article from:
- ADP Debt News
- Article date:
- September 21, 2009
CopyrightCOPYRIGHT 2009 Aii Data Processing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
(ADPnews) - Sep 21, 2009 - R&I downgraded Friday to "negative" from "stable" the outlook on Japanese electric wire and cable producer Hitachi Cable Ltd (TYO:5812).
At the same time, the agency confirmed the a-1 rating on the company's commercial paper programme.
For the fiscal year ended March 2009, Hitachi Cable posted an operating loss in the sophisticated materials business due to deterioration in profitability, the agency said.
The operating loss in its area of focus has dragged down the overall results. With impairment losses and the reversal of deferred tax assets, the company recorded a net loss of more than JPY 50 billion (USD ...