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S&P Lowers SoftBank's Credit Rating Outlook to Negative as Increased Bet on OpenAI May Harm Liquidity
Recommend 1 Positive 3 Negative 2 |
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Credit rating agency S&P Global lowered its outlook for SoftBank Group from stable to negative, saying its plan for an additional US$30 billion investment in OpenAI may harm its liquidity and asset credit quality. S&P also affirmed a 'BB+' long-term issuer credit rating for the Company, noting that SoftBank can mitigate negative financial impact by selling assets. Last month, SoftBank decided to deepen its investment in OpenAI after already injecting over US$30 billion into OpenAI and funding other AI projects. Last year, SoftBank had sold assets like stakes in T-Mobile US (TMUS.US) and Nvidia (NVDA.US) to raise funds for founder Masayoshi Son's AI investment bets. AASTOCKS Financial News Website: www.aastocks.com |
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