Sony credit rating downgraded to junk by Fitch

[froggyboy604]

Sony's credit rating has been cut to junk status by Fitch Ratings. Another major ratings agency, Moody's, dropped Sony to one notch above junk earlier this month. Businessweek reports Fitch cited a laundry list of issues for the downgrade, which included Sony's current financial situation.

Source

I guest this means Sony can't take out as many big loans from trustworthy banks since banks don't like loaning money to people and companies with bad credit especially if they are labeled junk.

 

[Demon_Skeith]

I'm not surprised really. Their handling of the PS series isn't that great and I don't think there doing well in other areas.

 

[froggyboy604]

Sony PS does not seem to have as many exclusives as the past since the Final Fantasy series is now on the Xbox 360 as well.

Sony PS3 Move also seem less popular then Wii, and Kinect.

Plus, their TVs, cell phones, and computers are expensive.

 

[Demon_Skeith]

very much so, they need change or they will shoot themselves in the foot.