TEXT-S&P: Ratings on Asahi Glass Placed on Creditwatch Negative

Extended weakness in profits in Asahi Glass' core architectural glass operations in Europe and flat panel display glass operations have reduced the likelihood that the company will swiftly restore its financial soundness to levels commensurate with the current ratings, in our view.

We have placed the long- and short-term ratings on Asahi Glass and the rating on a subsidiary's commercial paper program on CreditWatch with negative implications.