SoftBank Dumps Moody’s After a Two-Notch Downgrade


SoftBank Group Corp. dropped Moody’s Investors Service after the credit-ratings firm criticized the Japanese tech giant’s massive share-and-debt buyback plan and downgraded its ratings by two notches.

Moody’s questioned the “unexpected size and apparent urgency” of SoftBank’s plan, which proposes up to $41 billion in asset sales to fund repurchases of stocks and bonds.

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