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SoftBank's credit outlook downgraded to negative

S&P Global Ratings says $4.7 billion buyback amid market turmoil is risky

SoftBank announced on March 13 that it will buy up to 7% of its outstanding shares.   © Reuters

TOKYO -- S&P Global Ratings on Tuesday cut SoftBank Group's credit rating outlook from "stable" to "negative," citing its recently announced share buyback and falling stock prices as a risk to the Japanese technology conglomerate's financial health.

The U.S. ratings agency affirmed SoftBank's long-term credit rating at BB+, which is considered non-investment grade.

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