Sony hit with second Moody's downgrade in a month

Moody's downgraded Sony's credit rating for the second time in a month on Friday, the latest blow to Japan's electronics sector where embattled Sharp has seen its own credit rating slashed to junk. The global ratings agency chopped Sony by one notch to Baa3 with a negative outlook, just above junk grade, citing ongoing struggles in the consumer electronics giant's television business.
Moody's last cut its rating on Sony on October 12, pointing to the once-iconic firm's weak profitability and cash flow as it struggles to move past a whopping $5.7 billion loss in the last fiscal year.