New S&P downgrade on Sony credit rating

New S&P downgrade on Sony credit rating
Seth Tipps

By Seth Tipps

February 9th 2012 at 11:18PM

Likelihood of recovery low, says credit agency

Credit agency Standard and Poor's have downgraded Sony's credit rating from A-2 to BBB+.

Sony has struggled lately with several products failing to meet expectations on the market, and reported a $1.1B loss for Q3 2011.

Citing poor demand and "severe circumstances", S&P said ratings could be expected to drop further if there was no sign of recovery within 6-12 months.

The full report can be found here.