Moody“s Investors Service Inc. said 18 October 2004 that it has upgraded its senior unsecured long-term debt ratings on Japanese firms Asahi Glass Co., Nippon Electric Glass Co. and Central Glass Co….
Moody“s Investors Service Inc. said 18 October 2004 that it has upgraded its senior unsecured long-term debt ratings on Japanese firms Asahi Glass Co., Nippon Electric Glass Co. and Central Glass Co.. Asahi Glass saw its rating go up to A1 from A2, Nippon Electric Glass to A3 from Baa1 for, and Central Glass to Baa1 from Baa3. The ratings outlooks are stable. As a reason for the upgrades of Asahi Glass and Nippon Electric Glass, Moody“s cited their entry into the rapidly growing flat-panel display business, which it believes will contribute to their stronger financial profile. On Central Glass, the agency noted that the company has a solid market position in the Japanese flat glass sector as the third largest player.