DBRS upgrades Daimler

DBRS said it upgraded the long-term ratings of Daimler AG and its rated subsidiaries, Daimler Canada Finance Inc. and Daimler Finance North America LLC, to A from A (low).

Concurrently, the agency confirmed the associated short-term ratings at R-1 (low).

The trend is stable.

DBRS said the upgrade reflects the company’s continually improving earnings over the past number of years, which has caused Daimler’s current financial risk assessment to strengthen to a level greater than the previously assigned ratings.

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