Credit-rating firm Moody's Investors Service on Friday revised its outlook for SoftBank Group Corp to"negative" from"ratings under review", three months after making a two-notch downgrade that caused a public spat with the tech conglomerate.
The revision to the outlook represents a doubling-down by Moody's after it cut SoftBank deeper into junk territory in March - leading to the indebted conglomerate taking the unusual step of asking for its rating to be withdrawn.SoftBank in a statement said it"has provided no information to Moody's", and that it is"unclear what Moody's intention is" or"what information it uses" to make its assessment.
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