Fitch lifts Sony to positive

Fitch Ratings said it revised the outlook on Sony Corp. to positive from stable.

The long-term foreign- and local-currency issuer default ratings also were affirmed at BB-.

The outlook revision reflects expected improvements in Sony's credit profile as a result of continued restructuring and a belief that the company is positioned to make operating profits, Fitch said.

There is a high likelihood of a rating upgrade should the leverage remain at a lower level and earnings stabilize further in its key operating segments, the agency said.

But, Fitch said it believes that Sony's profitability, excluding Sony Financial Holdings, will remain fragile due to its exposure to the weak consumer electronics segment.

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