Skip to content
Subscriber Only

SoftBank Rating Lowered to Junk by Moody’s After Sprint Deal

SoftBank Corp., led by billionaire Masayoshi Son, had its credit rating cut to junk by Moody’s Investors Service after completing its $21.6 billion acquisition of a controlling stake in Sprint Corp.

The rating was cut to Ba1, the highest noninvestment grade, from Baa3, Moody’s said in a statement today. The ratings service took the action about two weeks after a similar move by Standard & Poor’s.