CRANBERRY TWP — Westinghouse had its value downgraded by its Japanese parent company Tuesday, in a move apparently prompted by concerns about the parent company's own financial well-being.

Toshiba, which bought Westinghouse in 2006 for $5.4 billion, said Tuesday that it will record a $2.3 billion “impairment charge” on the goodwill value of Westinghouse. That figure essentially represents the difference between how much Toshiba bought Westinghouse for and how much the nuclear firm is now worth.

Toshiba said in a news release that the forecast for its own financial condition had “deteriorated significantly,” including the company having its credit rating downgraded, which was the reason for the Westinghouse write-down.

The rating downgrade likely makes the task of getting funding for its different businesses more difficult for Toshiba, but the company said that “no important changes were made to its long-term business plan” because of the deteriorating forecast.

Toshiba said that Westinghouse fell below its book value in the fourth quarter of last year, and the company “cannot be expected to recover in the immediate future.”

Tuesday's announcement was accompanied by a revision to Toshiba's business forecasts, showing a projected drop of more than 11 percent in net sales for fiscal year 2015, which equates to about 700 billion yen. A U.S. $1 equals roughly 111 yen.