Moody's downgrades Sony to Baa2

Moody's Investors Service said it downgraded the issuer and long-term senior unsecured bond ratings of Sony Corp. to Baa2 from Baa1.

At the same time, Moody's confirmed the Prime-2 short-term ratings of Sony and its supported subsidiary, Sony Global Treasury Services Plc.

The outlook is negative.

Moody's said the actions consider Sony's weak profitability and cash flow, its challenges in achieving profitability in the TV and mobile phone segments and the erosion in its global competitive position across different product lines.

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