S&P upgrades SoftBank's outlook to stable on group's growing cash reserves

Photo: Bloomberg

S&P Global Ratings said on Tuesday it has revised SoftBank Group Corp’s outlook to stable from negative in a vote of confidence in the conglomerate after it sold down assets following a series of missteps.

SoftBank’s “aggressive growth strategy and financial policy are unlikely to erode its creditworthiness materially in the next one to two years,” said S&P, which affirmed SoftBank’s long-term issuer credit rating at BB+.

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