Toyota Motor Corp. and its affiliates’ credit rating outlook was cut to negative from stable by Moody’s Investors Service on concern gains in the yen may delay recovery in their profit margins.
The automaker’s rating could be reduced if it is unable to implement steps to restore profitability, Moody’s said in a statement today. Toyota’s senior unsecured long-term rating was affirmed by Moody’s at Aa3, three notches below the top investment grade.
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