Canon Inc. -- Moody's downgrades Canon Inc. to Baa1; outlook changed to stable from negative
- Rating Action: Moody's downgrades Canon Inc. to Baa1; outlook changed to stable from negativeGlobal Credit Research - 24 Feb 2021Tokyo, February 24, 2021 -- Moody's Japan K.K. has downgraded Canon Inc.'s (Canon) issuer rating to Baa1 from A3.At the same time, Moody's has changed the outlook on the rating to stable from negative.
- "The downgrade reflects steady demand decline in Canon's core copier/printer business, which we expect will squeeze the company's profit and cash flow, and weakly position it for its previous rating in the single-A category as compared against its peers," says Motoki Yanase, a Moody's Vice President and Senior Credit Officer." read the rest here