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Toshiba Dives On Nuclear Woes, S&P Warns Over Rating

Faizan Hashmi Published February 17, 2017 | 01:00 PM

Toshiba dives on nuclear woes, S&P warns over rating

TOKYO, , (UrduPoint / Pakistan Point News - 17th Feb, 2017 ) - Shares in troubled conglomerate Toshiba dived again Friday as Standard & Poor's warned it may cut its credit rating while a possible saviour of the Japanese firm's loss-hit nuclear unit reportedly ruled out any rescue deal.

Investors have sliced more than 20 percent off its Tokyo-listed stock this week as Toshiba, one of Japan's best-known firms, warned of huge losses and possible accounting fraud at its US nuclear arm Westinghouse Electric.

On Friday, shares plunged 9.2 percent to end the day 184 Yen ($1.62) with worries swirling that the firm will be booted off the Tokyo Stock Exchange's prestigious first section as its finances deteriorate.

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