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U.S. credit rating agency Standard & Poor’s said Wednesday that it has downgraded Japanese electronics company Toshiba Corp.’s long-term corporate credit to “BBB-” from “BBB,” stating that confusion in its operations arising from “inappropriate” accounting may continue to have a negative impact on its earnings.

The outlook for the company is “negative,” S&P said, maintaining its view of downside risk in Toshiba’s earnings and financial performance in the next one to two years.

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