TOKYO (AP) - Standard & Poor's cut its credit rating for troubled electronics maker Sony Corp., citing doubts about the company's restructuring plan and forecasting profitability will fall "substantially.''
The downgrade spells more bad news for Tokyo-based Sony and comes just weeks after Moody's Investors Service put the company on review for a possible cut on grounds it will be hard for Sony to achieve the earnings success it had in the past.
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