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Toshiba is looking to restructure amid massive losses in its nuclear business in the U.S.

S&P downgrades Toshiba even further into junk

Company exploring spin-offs as losses on U.S. nuclear ops could exceed $4.4bn

TSUBASA SURUGA, Nikkei staff writer | Japan

TOKYO -- S&P Global Ratings has cut Toshiba's credit rating even further into junk status, the ratings agency announced on Tuesday.

The Japanese conglomerate's credit rating was downgraded to CCC+, down one notch from the previous B-. Both ratings are considered "junk" level. S&P said Toshiba's ratings remain on credit watch, with negative implications.

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