Fitch shifts Sony outlook to positive

Fitch Ratings said it changed the outlook on Sony Group Corp. to positive from stable and affirmed the long-term foreign- and local-currency issuer default ratings and senior unsecured class rating at BBB+.

“The positive outlook reflects the likelihood of Sony's EBIT margin will exceed 9.5% in the financial years ending March 2023 (FY23) to FY24 - the threshold above which we may take positive rating action. We are likely to upgrade the rating when we have more confidence that the higher margin and cash flow will be sustained in the medium term,” the agency said in a press release.

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