Panasonic Corp.'s ratings upgrade last week shows that its investment in self-driving autos and car batteries has breathed new life into the company as it scales back on consumer electronics.
Japan's Rating & Investment Information Inc. raised its ranking on the company one level to A on Oct. 20, the credit assessor's first increase for the manufacturer. The price of Panasonic's bonds maturing in 2018 is near the record high reached July 9.
President Kazuhiro Tsuga is pouring tens of billions of yen into its battery venture with Tesla Motors Inc. as the company develops new businesses while cutting back on TVs, smartphones and circuit boards.