Moody's: American Honda Finance notes A1

Moody's Japan K.K. said it assigned A1 ratings to the $100 million and $30 million notes due October 2018 issued by American Honda Finance Corp.'s euro medium-term note program. American Honda Finance is an indirectly, wholly owned subsidiary of Honda Motor Co., Ltd. (A1/P-1, stable).

The outlook is stable.

This is a drawdown from the company's $11 billion euro medium-term note program, which is rated provisional A1.

The credit quality of the notes is enhanced by a support agreement between Honda and American Honda Finance.

Honda's A1 rating is supported by an excellent brand and strong position in its core automotive markets, its strong position in the motorcycle business, its cost management capability and its strong balance sheet, Moody's said.

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