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Toyota's Suffers Credit Rating Cut, Future Downgrades Possible In 2009

Agent009 submitted on 11/26/2008 Official Bell & Ross Timestamp: 9:40:04 AM

13 user comments | Category: Misc News | Source: | SOURCE: www.detnews.com

Fitch Ratings cut Toyota's top-notch credit rating on Wednesday, blaming the world's auto market slump and surging yen -- the latest sign that even Japan's top automaker is suffering from the global slowdown.

Fitch also cited high material costs as another challenge as it lowered its rating on Toyota Motor Corp. two notches to "AA" from "AAA," with a negative outlook, meaning the rating could be lowered in the next year or two.

The automaker's shares dropped nearly 5 percent in Tokyo morning trading.

"Toyota is suffering severely from the ongoing turmoil in the global automotive sector," said Tatsuya Mizuno, a Fitch director.
 



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Toyota's Suffers Credit Rating Cut, Future Downgrades Possible In 2009

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Agent009

"If everything seems under control, you're just not going fast enough."

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User Comments

vladyxa

Another creation by analysts-morons.

— vladyxa (View Profile)

Posted on 11/26/2008 10:13:04 AM | reply to this comment | Votes: 1   

Badgewhore

Those same moron analysts and speculators who drove the price of crude to an all time high, devalued the US dollar and sent the worlds economy to the toilet is now trying to devalue Toyota's credit rating using the mess they've created as justification.

— Badgewhore (View Profile)

Posted on 11/27/2008 4:10:44 AM | | Votes: 1   

800over

Another article by a Toyota Troll 009.

— 800over (View Profile)

Posted on 11/26/2008 12:07:26 PM | reply to this comment | Votes: 1   

TurboSpyder

So don't say anything negative about Toyota even if it's true?

— TurboSpyder (View Profile)

Posted on 11/26/2008 6:49:43 PM | | Votes: 0   

Agent009

800Over must have his head in the sand. Toyota copied the big threes game plan so well it fell victim to the same weaknesses. While quality needs to be number one, it won't save you if you have the wrong mix.

— Agent009 (View Profile)

Posted on 11/26/2008 10:23:45 PM | | Votes: -1   

Badgewhore

So in retaliation for being called a Toyota troll 009, you go rail on Toyota with BS claims? Nice!

You know full well what's saving Toyota is #1 in quality. It's product mix is spot on or it wouldn't be the largest, richest and most valuable auto maker in the world by far. Before the market took a major dive, practically every Toyota model consistently sells either at the top or very near the top of it's class. I'm sure everyone like to know what Toyota needs to do to get the "right" mix if their current mix are wrong.

TurboSpyder,

It's OK to say anything negative about Toyota if it's true, but it's trollish to autospies those truth.

— Badgewhore (View Profile)

Posted on 11/27/2008 3:45:42 AM | | Votes: 2   

mitchatlexusofmarin

Toyota hardly needs credit with their 58 billion cash on hand.

— mitchatlexusofmarin (View Profile)

Posted on 11/26/2008 12:39:52 PM | reply to this comment | Votes: 3   

thetruth01

In a rush to post a neagtive Toyota story, 009 once again fails basic English grammar in his headlines.

"Toyota suffers," not "Toyota's suffers." sheesh.

— thetruth01 (View Profile)

Posted on 11/26/2008 1:48:23 PM | reply to this comment | Votes: 3   

TurboSpyder

And it's "negative" not "neagtive".

— TurboSpyder (View Profile)

Posted on 11/26/2008 6:50:55 PM | | Votes: 1   

Agent009

man I wish we had spell cheack.... (see I did it again)

— Agent009 (View Profile)

Posted on 11/26/2008 10:24:44 PM | | Votes: 1   

americanmuscle

I'm glad Toyota is suffering!!!

— americanmuscle (View Profile)

Posted on 11/27/2008 12:51:33 AM | reply to this comment | Votes: 0   

huu76

Why would Toyota's credit rating even be reviewed right now? It's one of the few companies that has enough money to finance itself.

Know nothing economists/analysts trying to find something to do so they don't look "expendable". BCE in Canada was doing fine, a pension wanted to buy it but now "someone" said that their debt load would be too great if the fund bought them thereby basically killing the purchase. Now the stock has lost about 33% in 2 days eventhough nothign has changed with their business or practice.

Finances and stocks are looking really retarded right now. Now they say what happened to the housing industry will happen to commercial property, guess thats what happens when you build a livelihood on bubbles.

— huu76 (View Profile)

Posted on 11/27/2008 9:28:54 PM | reply to this comment | Votes: 2   

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