Moody’s upgrades Canon to second highest rating

Updated Tuesday, February 19, 2008 0:00 am TWN, AFP

Moody’s upgrades Canon to second highest rating

TOKYO -- Moody’s Investors Service on Monday gave Japan’s Canon Inc. its second highest possible rating, saying the high-tech giant had carved out solid market positions in cameras and office equipment. Moody’s upgraded Canon by one notch to Aa1, reflecting a very strong capacity to repay borrowings.

“Canon is likely to sustain its strong operating performance given its competitive market positions in most of its major product lines,” the ratings agency predicted in a statement.

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