S and P cuts 5 major Japanese trading firms' ratings.TOKYO, Feb. 9 Kyodo Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index
Standard and Poor's Index (S and P) said Tuesday that it has downgraded its credit ratings of Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui and Co. and Nissho Iwai Corp., noting the greater business and financial risks leading Japanese trading houses are currently facing. The short-term rating of Itochu was lowered from A-3 to the speculative level of B, reflecting its rising debt burden and dwindling dwin·dle
v. dwin·dled, dwin·dling, dwin·dles
To become gradually less until little remains.
To cause to dwindle. See Synonyms at decrease. capacity to deal with problem areas, the major U.S. credit rating agency A credit rating agency (CRA) is a company that assigns credit ratings for issuers of certain types of debt obligations. In most cases, these issuers are companies, cities, non-profit organizations, or national governments issuing debt-like securities that can be traded on a said. Itochu and Marubeni, whose short-term rating dropped to A-3 from A-2, have greater exposure to risks from cyclical cyclical
Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. trading products and from nontrading investments, according to S according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. and P. Mitsubishi's long- and short-term ratings were downgraded to A-minus and A-2, respectively, from A-plus and A-1. The short-term rating of Mitsui was cut to A-2 from A-1, while Nissho Iwai's long-term rating based on public information, or "pi," is now Bpi, down from BBpi. Itochu said it will strive to improve its corporate value, while Mitsubishi does not consider that its credit worthiness has dropped. Mitsui, Marubeni and Nissho Iwai said they had no comment on the revised ratings.