If you set your time machine back all the way to January 2014, you’ll remember that creditor giant Moody’s downgraded Sony’s credit rating to junk. While potentially trivial sounding, credit ratings go a long way towards helping companies secure loans and determine their rates. For Sony, with a less than stellar rating, you can be assured that they’ve been paying for every penny they’ve borrowed in order to to grow and turn around their business.

As Robert Fenner writes for Bloomberg, after years of shuttering divisions and pivoting their business, Sony is beginning to show signs of its former self.

 Sony Corp. had its credit rating raised one notch to Baa3 at Moody’s Japan KK, regaining its investment grade at the service for the first time since 2014.

Extensive restructuring has helped restore Sony’s financial profile with a more stable earnings base, Moody’s said in a statement Tuesday. Sony was cut to junk at Moody’s in January 2014.

Sony’s leadership, including Chief Executive Officer Kazuo Hirai and finance chief Kenichiro Yoshida, have imposed tighter discipline at the company after years of record losses, quitting businesses including PCs and putting others such as TVs and phones on a close watch. The company has used its PlayStation gaming business and the image sensors used in smartphones to revive earnings. 

Just earlier this week, an analyst at Forbes called Sony’s stock “over sold.” With creditors and analysts getting more bullish on Sony, do you think the company is finally on their way towards recovery?