SoftBank Group is contemplating legal action against Moody's Ratings after it issued a report on the tech-focused holding company.
The gripe is not so much about the Ba3 rating published in the report, especially since the credit-rating agency's outlook for SoftBank was upgraded from stable to positive. It is instead about the rating being unsolicited.
Bonds that are rated Ba3 by Moody¡¯s are considered noninvestment grade, or speculative. In Wall Street jargon, they are known as junk bonds.
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