Fitch upgrades Sony to A-

Fitch Ratings said it upgraded Sony Group Corp.'s long-term foreign- and local-currency issuer default and senior unsecured ratings to A- from BBB+.

“The upgrade reflects the improvement in Sony's operating stability as the company is expanding its recurring revenue base, especially in game and music segments, and focusing on high-end consumer electronics and image sensors. Solid operating cash generation should continue to provide the company with the financial flexibility to maintain a strong balance sheet,” Fitch said in a press release.

The outlook is stable.

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