Moody's: Toyota Motor Credit view to negative

Moody's Investors Service said it affirmed the Aa3 senior unsecured long-term ratings of Toyota Motor Credit Corp. and its supported subsidiaries.

The outlook was changed to negative from stable.

The company's prime-1 short-term rating also was affirmed.

The action is in conjunction with a similar action that affirmed the long-term ratings of Toyota Motor Corp. and its subsidiaries and revised its outlook to negative from stable.

Toyota Motor Credit's ratings and outlook are equalized with those of ultimate parent, Toyota, Moody's said.

This is due to the strategic importance of Toyota Motor Credit to Toyota and Toyota's strong incentive to provide support to Toyota Motor Credit on a timely basis, the agency said.

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