Moody's rates Toyota Argentina debt Ba3

Moody's Investors Service said it assigned a Ba3 global local currency senior debt rating to Toyota Compania Financiera Argentina's expected issuance of up to Argentine peso 30 million of debt due in 12 months. The debt will be issued under the company's existing MTN program.

Moody's said it also assigned a Ba3 global local currency senior debt rating to Toyota Argentina's expected issuance of up to Argentine peso 90 million due in 21 months under the same program.

At the same time, the agency said it assigned Aaa.ar local currency debt ratings on the Argentinean national scale to both expected issuances.

The outlook is stable.

Moody's said the local currency senior debt rating derives from Toyota's Ba3 global local currency deposit rating. Moody's also noted that seniority was taken into consideration in the assignment of the debt ratings.

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