The Clay Crowd
Hello Everyone!!!
Welcome to The Clay Crowd's Forum!
If this popup is annoying and in the way, please chose from the following:
From Mattuiop____________________________________________/
ps: have a nice day!______________________________________/

Moody's cuts Toyota credit rating on strong yen

Go down

Moody's cuts Toyota credit rating on strong yen

Post by Mr007 on Thu Jul 07, 2011 10:56 pm

Moody's cuts Toyota credit rating on strong yen
Workers give the final check to Toyota cars Toyota and other carmakers have been operating at reduced capacity since March's earthquake

Car giant Toyota has had its credit rating cut by the ratings agency Moody's on worries that the strong yen and rising raw material costs will hit profitability.

Moody's cut the car maker's credit rating one notch to Aa3 from Aa2.

The ratings agency, which had put Toyota under review in April, said further cuts remained a possibility.

Toyota has faced major disruptions to its supply chain from the 11 March earthquake and tsunami in Japan.

"Toyota's profit recovery during the period of its financial year to March 2013 will not be as strong as preferred due to its declining markets share in various regions, the strong yen and high raw material prices," Moody's said in a statement.

A strong yen makes Japanese exporters less competitive, and Toyota is a larger exporter than its Japanese competitors Honda and Nissan.

Pari Sportif

Back to top Go down

Back to top

- Similar topics

Permissions in this forum:
You cannot reply to topics in this forum