Fitch may downgrade Toyota group

Fitch Ratings said it placed the A+ ratings for notes issued by companies within the Toyota group, including Toyota Motor Credit Corp., Toyota Credit Canada Inc., Toyota Finance Australia Ltd., Toyota Kreditbank GmbH and Toyota Motor Finance (Netherlands) BV, on Rating Watch negative.

This follows Fitch's decision to place Toyota Motor Corp.'s A+ long-term foreign- and local-currency issuer default ratings and senior unsecured ratings on Rating Watch negative. The agency also said it placed its F1+ short-term foreign- and local-currency issuer default rating on Rating Watch negative.

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