Moody's: Toray view stable

Moody's Investors Service said it changed to stable from negative the outlook for the A3 senior long-term debt of Toray Industries, Inc. and its supported subsidiaries, Toray Capital (America), Inc. and Toray Capital (Europe) BV.

The outlook change is based on a view that Toray's overall credit metrics will continue to improve, given the company's strengthened capital structure and improving profitability supported by the recovery in demand for each of its businesses, Moody's said.

Demand for almost all of Toray's segments is recovering, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.