Standard & Poor's Corp. said Friday it has cut the corporate credit rating of electronics maker Fujitsu Ltd. to BBB minus pi from BBBpi, citing weak earnings from sluggish sales of telecommunications equipment and semiconductor products.
S&P also said it has lowered its corporate credit rating on Toshiba Corp. to BBB-minus from BBB, citing grim earnings prospects for the firm.
The outlook on Toshiba's long-term credit rating is negative, the U.S. credit-rating agency said. It affirmed Toshiba's A-3 short-term rating, saying Toshiba has sufficient liquidity.