29.12.201602:36:00UTC+00Ações da Toshiba continuam a despencar depois de baixas de crédito

Toshiba's shares extended losses into the third session, dropping more than 19% in morning Asian trade after the Japanese' tech group's credit ratings were downgraded by several rating agencies.

After its stock suffered a 20% crash in the prior session due to writedown concerns, Toshiba's shares suffered another heavy blow after Moody's became the second rating agency to lower the group's corporate credit deeper into “junk" or non-investment grade category, slashing its rating from B3 to a Caa1.

S&P Global Ratings also lowered Toshiba's long-term corporate credit rating to “B-" from “B".

Moody's analyst said the downgrade is due to Toshiba's financial metrics which are anticipated to deteriorate further that may potentially result in a negative equity position. The rating downgrade also denoted the increasing worries regarding Toshiba's governance, Moody's analyst said.

On Tuesday, Toshiba flagged a major writedown that could cost the firm and its investors billions of dollars in losses.

The stock was last trading 15% down at 264 yen on Wednesday.

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