Credit rating and prestige slip as problems continue to mount...
By Aled Herbert, 2 August 2001 08:00
NEWS US credit rating agency Moody's has downgraded Japanese electronics giant Sony's outlook from 'stable' to 'negative'. Sony last week reported that is would fall short of its profit forecasts because of a slowdown in demand for its products. Moody's highlighted Sony's games division was one of the main areas holding back the company's profitability. Sony's share price has been cut in half since late May.
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