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    Moody's cuts Toyota rating; further downgrade possible

    Moody's downgraded its credit rating on Toyota Motor Corp one notch on Tuesday and will keep it on review for possible downgrade, saying it till take time for the automaker to return to stable earnings.
    June 28, 2011 / 14:59 IST

    Moody's downgraded its credit rating on Toyota Motor Corp one notch on Tuesday and will keep it on review for possible downgrade, saying it till take time for the automaker to return to stable earnings.

    Moody's Investors Service lowered its senior unsecured rating on the Japanese automaker to Aa3 from Aa2.

    The agency put Toyota on review in April, citing disruptions to the automaker's supply chain from the March 11 quake and tsunami and subsequent power cuts.

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