Fujitsu downgraded to ‘junk’ status by S&P

TOKYO-Ratings agency Standard & Poor’s has brought chip maker Fujitsu Corp. down to “junk” status, owing to the company’s poor earnings. “Given Fujitsu’s weak earnings base, it will likely take significant time for the company to improve its financial profile to a level consistent with that of the previous rating category,” said S&P credit analyst Fusako Nagao.