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S&P lifts SoftBank view to stable
S&P said it revised the outlook on SoftBank Group Corp. to stable from negative.
The company conducted an initial public offering of subsidiary SoftBank Corp. on Dec. 19, S&P explained.
The agency said it expects the company to allocate a portion of the IPO proceeds to debt repayment, which should somewhat improving its financial standing.
S&P said it is estimates the company's debt-to-EBITDA ratio will improve to 4.2 from 4.6x.
The company's ratings were affirmed because its debt burden will remain heavy, even if the ratio improves and because it is likely to continue its aggressive financial management, the agency said.
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