Sumitomo Chemical Removes Itself from the Moody's Credit Rating List
May. 1, 2020
Sumitomo Chemical has demanded that Moody’s Japan K.K. (Moody’s) remove its issuer credit rating, and the company is delisted from Moody’s as of May 1, 2020.
To date, the company has obtained ratings from three credit rating agencies: Rating & Investment Information, Inc. (R&I), Japan Credit Rating Agency, Ltd. (JCR), and Moody’s. Sumitomo Chemical has decided to have its rating removed from Moody’s after reviewing the overall cost effectiveness of maintaining the corporate structure necessary to sustain its ratings. This has no impact on its business performance. The company intends to continue its credit ratings by R&I and JCR.
Sumitomo Chemical is committed to improving sustainable corporate value through more capital efficiency and a stronger financial base.