SoftBank questions S&P after it cuts rating deeper into junk

S&P Global Ratings has further downgraded SoftBank Group's long-term rating to BB, a step closer to junk territory, due to the company's exposure to unlisted companies that are sensitive to external changes. The downgrade comes at a time when SoftBank has sold portions of its assets, including its stake in Alibaba, to maintain its balance sheet, as the value of its portfolio continues to falter. SoftBank is planning to ask S&P to reconsider the downgrade after questioning the reasons provided.

SoftBank questions S&P after it cuts rating deeper into junk
S&P Global Ratings has further downgraded SoftBank Group's long-term rating to BB, a step closer to junk territory, due to the company's exposure to unlisted companies that are sensitive to external changes. The downgrade comes at a time when SoftBank has sold portions of its assets, including its stake in Alibaba, to maintain its balance sheet, as the value of its portfolio continues to falter. SoftBank is planning to ask S&P to reconsider the downgrade after questioning the reasons provided.