S&P lifts Mitsubishi Motors view to stable

Standard & Poor's said it revised to stable from negative the outlook on the B+ long-term corporate credit rating on Mitsubishi Motors Corp.

S&P also said it affirmed the company's B+ long-term corporate credit rating.

The outlook revision reflects a faster recovery in production than expected, S&P said, and a reduced risk of erosion in its fair competitive position.

These factors make it likely that the company's gradual recovery in profitability and improved financial profile will continue for the next few years, the agency said.

The company's continued solid sales performance following robust sales growth of 15% in 2010 proves that its current competitiveness will remain intact, S&P said.

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