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Moody's gives American Honda bonds A1
Moody's Japan K.K. said it assigned A1 ratings to the bonds issued by American Honda Finance Corp.'s $500 million medium-term note program bonds due 2014.
American Honda is an indirectly, wholly owned subsidiary of Honda Motor Co., Ltd. (A1/P-1, negative).
The outlook is negative.
This is a drawdown from the company's $25 billion medium-term note program, which is rated provisional A1.
The credit quality of the bonds is enhanced by the keep-well agreement between Honda and American Honda.
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