Moody’s changes LG Electronics to negative

Moody's Investors Service said it changed LG Electronics Inc.'s (LGE) rating outlook to negative from stable and affirmed the Baa3 issuer and senior unsecured debt ratings and the provisional Baa3 senior unsecured rating of its medium-term note program.

"The negative outlook primarily reflects our view that the profitability of both LGE and its 37.9%-owned affiliate LG Display Co Ltd (LGD, unrated) will remain pressured in 2016, reflecting intense competition in mobile handset and home electronics segments as well as worsening supply glut in LCD panel segment," Moody's vice president and senior credit officer Annalisa DiChiara said in a news release.

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