Moody's ups Sanyo Electric

Moody's Investors Service said it upgraded the long-term senior unsecured debt and issuer ratings on Sanyo Electric Co., Ltd., to A2 from Baa1.

The outlook is positive.

This concludes a review for possible upgrade that began in July.

The upgrade reflects an expectation that the full acquisition of Sanyo by Panasonic Corp. will solidify the companies' business and financial ties in light of the planned integration of the former into the Panasonic group, Moody's said.

The rating reflects an expectation that the increase in Panasonic's stake in Sanyo to 100% will facilitate the integration of the group companies' business lines and brand, Moody's said, in addition to head office functions.

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