Securities rating firm Standard & Poor“s Corp. (S&P) said earlier this month that it had raised its ratings outlook for Japan“s Asahi Glass Co. Ltd. from negative to stable.
S&P also said in a st…
Securities rating firm Standard & Poor“s Corp. (S&P) said earlier this month that it had raised its ratings outlook for Japan“s Asahi Glass Co. Ltd. from negative to stable. S&P also said in a statement that it had affirmed Asahi Glass “s A+ long-term rating and A-1 commercial paper rating. The A-1 commercial paper ratings of two Asahi Glass units, Asahi Glass America USA Inc. and AGA Capital Inc., had also been affirmed, S&P said. According to S&P, the upward revision in the firm“s rating outlook was due to expected growth in earnings and funds, with Asahi Glass benefitting from a strong domestic customer base as well as a successful move to high value-added glass and glass-related electronics products.