Toyota may Face Rating Cut
05 May 2009
Toyota Motor Corp, the automaker with the best credit, may have its AAA rating cut by Fitch Ratings, the first such downgrade in 10 years, as the auto industry faces "unprecedented challenges".
The rating cut would be the company's first since Moody's Investors Service reduced its long-term debt rating from Aaa to Aa1 in 1998. Moody's raised the company back up to Aaa in 2003. Standard & Poor's has rated the automaker AAA since 1985. Toyota spokesman Hideaki Homma declined to comment on the possible rating change.
Source : english.chinabuses.com
Editor : Frederick
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