Moody's ups Konica Minolta to A3

Moody's Investors Service said it upgraded the senior unsecured debt rating of Konica Minolta Holdings, Inc. to A3 from Baa2. This concludes an upgrade review that began in March.

The outlook is stable.

The upgrade is based on the company's steady progress in strengthening earnings and cash flow despite the challenging operating environment, Moody's said.

The upgrade also incorporates Moody's expectations that the company's capital structure is likely to show modest improvement, despite its recent active investment.

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