Moody's rates Honda notes A1

Moody's Japan KK said it assigned an A1 rating to American Honda Finance Corp.'s $1 billion floating-rate notes due 2014. The issuer is a subsidiary of Honda Motor Co., Ltd. (A1/stable). The outlook is stable.

The agency said the credit quality of the notes is enhanced by a support agreement between Honda and American Honda Finance.

Honda's A1 rating is supported by an excellent brand and strong position in its core automotive markets, its strong position in the motorcycle business, its cost management capability and its strong balance sheet, Moody's said.

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