Ratings agency Moody's cut Sony's long-term debt note by one notch to "Baa2," highlighting the challenges the group faces in making its consumer electronics, television and mobile phone businesses profitable .
Moody's accompanied the downgrade with a negative outlook, which means that the US agency expects to further lower its rating in the medium term.
"If a significant improvement in the company's financial profile is not evident in a relatively short time, its ratings will be further revised downwards," Moody's said in a statement.
Over the past three months, Sony has spent $1,8 billion buying companies from medical facilities to cloud gaming. But instead of borrowing capital, it decided to sell assets to finance the purchases. Third quarter data will be released on November XNUMXst.
