January 19, 2018 / 8:34 AM / in 7 months

BRIEF-S&P says Toshiba Corp upgraded to 'CCC+' on deal to sell Westinghouse-related assets

Jan 19 (Reuters) - S&P:

* S&P SAYS TOSHIBA CORP. UPGRADED TO ‘CCC+’ ON DEAL TO SELL WESTINGHOUSE-RELATED ASSETS; RATINGS ON CREDITWATCH POSITIVE

* S&P SAYS TOSHIBA’S ANNOUNCEMENT OF DEAL TO SELL WESTINGHOUSE-RELATED ASSETS HEIGHTENED LIKELIHOOD OF COMPANY ERASING ITS NEGATIVE NET WORTH

* S&P ON TOSHIBA CORP SAYS BELIEVE THE LIKELIHOOD OF DEBT RESTRUCTURING, INCLUDING A DEBT-FOR-EQUITY SWAP, IN THE NEAR TERM HAS DECREASED SIGNIFICANTLY ‍​

* S&P SAYS TOSHIBA NO LONGER FACES CIRCUMSTANCES IN WHICH DEBT RESTRUCTURING APPEARS INEVITABLE WITHIN 6 MONTHS IN ABSENCE OF UNANTICIPATED FAVORABLE CHANGES IN CIRCUMSTANCES Source: bit.ly/2DisWf4 Further company coverage:

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