NEW YORK (TheStreet) -- Shares of Panasonic Corp. (PCRFY) are up 3.68% to $10.92 on heavy volume after Fitch Ratings raised the electronics manufacturer to an investment grade rating following debt restructuring efforts and as the supplier to Tesla Motors (TSLA - Get Report) reported profit margins improved, Bloomberg reports.
Fitch upgraded Panasonic to BBB- from BB+ after the company posted improved margins and reduced debt in the year ended March, bolstering its credit profile, the rating company said.
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