Rating Agencies downgrade Sony

[shadowDOESrock]

Notable credit rating agency Fitch Ratings has downgraded Sony to "junk", following various hits to the company's reputation including its seventh consecutive quarterly net loss earlier this month.

Sony posted losses earlier this month, in part due to its declining video game business. Now Fitch has dropped Sony down three notches to BB-, meaning that it no longer classes Sony as an investment-grade company.

"This wasn't an easy decision," Matt Jamieson, Seoul-based head of corporate research, told the Financial Times. "But Sony reputation have been hit so much that it'll take a long while to crawl back."

Jamieson notes that a huge part of Sony's problem is its failing TV business, and if the company was to axe the sector, further downgrades may not be necessary in the future.

Damian Thong at Macquarie Securities added, "They do need to convince people that tough restructuring moves will be done in good time, while minimising unnecessary damage to healthy businesses."

Fitch is the first major ratings agency to downgrade Sony this low, although earlier this month the Moody's agency lowered Sony to just one notch above junk.

[Hakudamashi]

Sheesh, you give people free games every week for a year for only $50, and you're still treated like shit...

[Tanassy]

Sheesh, you give people free games every week for a year for only $50, and you're still treated like shit...

Good deeds never go unpunished.

[Hakudamashi]

Good deeds never go unpunished.

This truth never sitted well with me...

Does this mean PSN isn't gonna stay free for long?

[Tanassy]

This truth never sitted well with me...

Does this mean PSN isn't gonna stay free for long?

It'll stay free, but Sony will most likely need to "Sell" their premium features a little more harshly. and you can't really blame them.

[Hakudamashi]

It'll stay free, but Sony will most likely need to "Sell" their premium features a little more harshly. and you can't really blame them.

No more free games every week? D=

[jkid101094]

Speaking of PSN, those passes need to go. I understand what they're doing but don't start being dicks to rental and second-hand game stores.

[Tanassy]

No more free games every week? D=

Well I'm sure those will stay. That's the selling point after all.

Speaking of PSN, those passes need to go. I understand what they're doing but don't start being dicks to rental and second-hand game stores.

PSN isn't doing that, certain game companies are. On all platforms. Blame them.

They don't make any money from rental or used purchases.

[Hakudamashi]

They don't make any money from rental or used purchases.

But at the same time, I don't want to give my friends and extra $10 to try a game for the weekend...

[jkid101094]

Well I'm sure those will stay. That's the selling point after all.
PSN isn't doing that, certain game companies are. On all platforms. Blame them.

They don't make any money from rental or used purchases.

I was told it was a Sony exclusive thing. Looks like my source was wrong and I apologize.

Also I'm aware of that.

[Riot_Monsterous]

Ugh, Microsoft has seemed to have ripped more people off, and still Sony is having to deal with this. Likely the PSN network being hacked having at least something to do with it.
Stupid rating agencies and people, being all unfair and stuff. >:c -shot-
Anyways, hopefully it's able to pull out of it, and not lose too much profit.
I'd really hate to see Sony go down completely. xc

[shadowDOESrock]

I was told it was a Sony exclusive thing. Looks like my source was wrong and I apologize.

Also I'm aware of that.

What you where told wasnt wrong, you just understood it wrong.
According to the magazine PSM3 (which is from the same company that did Nintendo Power and the Xbox Magazine) decided to "leak" PS4 infos and that all PS4 Games require an online pass.

[Hakudamashi]

Ugh, Microsoft has seemed to have ripped more people off, and still Sony is having to deal with this. Likely the PSN network being hacked having at least something to do with it.
Stupid rating agencies and people, being all unfair and stuff. >:c -shot-
Anyways, hopefully it's able to pull out of it, and not lose too much profit.
I'd really hate to see Sony go down completely. xc

Speaking of which, and I'd hate to bring this up again, but what are getting exactly by paying for Xbox live?

[Riot_Monsterous]

Speaking of which, and I'd hate to bring this up again, but what are getting exactly by paying for Xbox live?

Online play, and being able to download demos. Yes, I know, it's a rip off when PSN has that stuff free, then there's Playstation plus, where you actually get wayyyy more out of.
This is also why I don't see why  Sony is getting all this crap. Microsoft rips people off constantly, RROD, making them pay for live.
Really the only upsides to live that you can't get from PSN.. A few extra online games to play with people.
Other than live, there's the kinect. The no remote required thing is the only thing good about that, but it requires so much space to play. xD
Xbox has a non-laggy version of Minecraft as well.
Annnd.. the party thing, with voice.
Anyways, in the end PSN really is the better deal. Of course. xD
I don't think I'll be missing my XboxLive too much. Since it had to be canceled this month. >w> but meh. it's not all bad.