Moody’s Revises Up SoftBank Outlook to Stable After Arm IPO
- Cites more transparency in the group’s investment portfolio
- Moody’s rating unsolicited and needs to stop, SoftBank says
A SoftBank store in Tokyo.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Moody’s Investors Service revised up its outlook on SoftBank Group Corp. to stable from negative, saying the listing of chip unit Arm Holdings Plc brings transparency to a bigger chunk of the tech investor’s portfolio, which includes hundreds of startups.
Credit ratings firms have cited SoftBank’s exposure to private market valuations as an ongoing risk. SoftBank’s portfolio, which includes bets of billions of dollars in bankrupt WeWork Inc. and hundreds of unprofitable and unlisted startups, remains largely opaque, with pricing often determined by a handful of private equity firms.