Moody's lowers Toyota Industries

Moody's Investors Service said it downgraded Toyota Industries Corp.'s issuer and senior unsecured ratings to A2 from A1.

At the same time, Moody's placed the ratings under review for further downgrade. The outlook has been changed to under review from negative.

“This action was primarily prompted by Moody's decision to downgrade Toyota Motor Corp.'s (TMC) long-term ratings to A1 from Aa3 and place the A1 ratings under review for further downgrade, as announced on March 26, 2020,” the agency said in a press release.

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