Fitch changes Toyota Motor view

Fitch Ratings said it revised the outlook on Toyota Motor Corp. to negative from stable.

The long-term issuer default ratings and the senior unsecured rating have been affirmed at A+.

Fitch affirmed Toyota's foreign-currency and local-currency short-term issuer default ratings at F1.

“The negative outlook is driven by increasing risks to the Japanese automaker's earnings and cash flows from the coronavirus pandemic,” the agency said in a news release.

“The outlook also reflects uncertainty over the length and extent of the crisis in the global auto sector amid production stops, disruption of supply chains and distribution networks and deteriorating demand in key markets.”

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