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Moody's slashes SoftBank credit rating over $41bn asset sale

Rating agency says 'aggressive' plans will be challenging and put credit quality at risk

SoftBank founder and CEO Masayoshi Son speaks during a news conference in Tokyo. (Photo by Ken Kobayashi) 

TOKYO -- Moody's on Wednesday downgraded SoftBank Group's credit rating by two notches and put the company under review for further downgrade, citing its "aggressive financial policy" during market turmoil.

The move tips SoftBank's rating further into junk territory and marks a blow for CEO Masayoshi Son's effort to shore up confidence with a $41 billion asset sale to boost share buybacks and cut debt.

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