"The downgrade reflects Fitch's belief that meaningful recovery will be slow, given the company's loss of technology leadership in key products, high competition, weak economic conditions in developed markets and the strong yen," Fitch Ratings noted today.
Boiled down, the junk bond status means it's believed Sony can't recover from its current state without major restructuring. Restructuring the conglomerate has been attempting to do for years.
[atm2003 via Shutterstock]
- Key specs
- Game format Optical disc, Downloadable
- Online features Multiplayer, Voice chat, Video chat, Store, Browser
- Drive capacity 250 GB
- Controller type Wired, Wireless
- Motion controls Accelerometer, Gyroscopic
- Video outputs HDMI (v1.3), RCA / composite
- Released 2012-09-25