Analyst Sees No Reason To Further Downgrade Toyota's Financial Rating

Moody's Investors Service said Monday it was retaining an Aa3 rating for Toyota Motor Corp.'s long-term debt following a review.

Moody's had downgraded Toyota's rating to Aa3, but was considering a further downgrade in connection with its review of government of Japan debt that was downgraded last week.

Moody's said that Monday's "rating confirmation reflects Moody's view that even after the downgrades of the government of Japan and major Japanese banks to Aa3, we believe that the level of systemic support for major industrial corporations is sufficient to maintain the rating of Toyota at Aa3."