Credit ratings agency S&P said SoftBank Group was upgraded to 'BB+' and subordinated debt to 'B+' on improvement in asset Quality. According to the agency, the outlook is stable for the next one to two years.
SoftBank Group is likely to continue to stabilize its investment income and improve the quality of its investment portfolio to a greater degree than we had forecast, S&P said.
"We expect the company to maintain investment portfolio quality and steady key financial metrics at around their current range over the next one to two years by managing with a degree of discipline, even as it increases risky new growth investments."
S&P also raised the long-term issuer credit rating on Softbank Group to 'BB+' from 'BB'. It also raised to 'B+' from 'B' their rating on the company's subordinated debt.
"The outlook is stable, reflecting our expectation that the company can maintain a relatively stable financial position over the next year or so."
