Sony rating now cut by S&P too.

[Aprisaiden]

kowenicki said:

IIIIITHE1IIIII said:

NiKKoM said:
Am I reading correct they actually wanted to knock it down with more then 1 grade?

However, we base our one-notch downgrade on our view that Sony's profitability and financial standing will gradually recover in fiscal 2012 because there will be no repeat of one-off expenses due to floods in Thailand and impairment losses on stockholdings.

Well, yeah. If another natural disaster appears.

not just that... they want to see progress in the TV area... I still dont see how this is going to happen.  Its taken 8 years for Sony to fall to where it is now in TV's they arent going to turn that around over night.

The long-term ratings were lowered to “BBB+,” S&P’s third-lowest investment grade, from “A-,” the ratings company said in a statement today. The outlook was set at “negative,” reflecting a view that the ratings may be cut further in the absence of a sign of recovery in earnings, S&P said.

Kaz has already made a lot of progress on the TV front. He slashed their project sales from 40 million to 20 million, getting rid of the LCD manufacturing partnership with panasonic, forcing the electronics department to adopt a "build what we can sell" idology. He also seems to have a reasonable viewpoint on state of the TV business asiming to cut its losses in half in fiscal year 2012-2013 and generate a small profit in 2013-2014.

Before Kaz the TV business just did its own thing and it seems like Sir Howard Stringer spent his time on goals for the company as a whole instead of forcing changes within un-profitable departments.