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Moody's Investors Service has changed the outlook of the Baa2 senior unsecured long-term debt ratings of Nippon Sheet Glass Co., Ltd.'s (NSG)to stable from positive.

Japan's Nippon Sheet Glass doubled its Pilkington stake to around 20 percent, in a move to expand its global reach.Pilkington Chief Executive Paolo Scaroni said he felt NSG would not raise its stake beyond that level.

British glassmaker Pilkington Plc's chief executive Paolo Scaroni said that he did not think Japanese glassmaker Nippon Sheet Glass Co Ltd would raise its stake in the company.

Nippon Sheet Glass, a large Japanese manufacturer, has increased its holding in Pilkington, the UK glass group, from 10 to 21 per cent over the past fortnight, but has ruled out mounting a full bid.