Moody’s downgrades Canon, view to negative

Moody’s Investors Service said it downgraded Canon Inc.’s issuer rating to A3 from A1.

“The downgrade reflects our view that the downward trajectory in Canon’s cash flow will be difficult to reverse, given the ongoing decline in its core office printing and camera businesses," said Takashi Akimoto, a Moody’s assistant vice president and analyst, in a press release.

The downgrade concludes a review Moody’s that began July 26.

The agency revised the outlook to negative.

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