Moody’s makes Japan the next credit rating victim.
Moody’s said it acted because of Japan’s large budget deficits and buildup in government debt since the two thousand nine global recession. Japan’s public debt is twice the size of its economy.
Moody’s has been reviewing its ratings on Toyota and several other corporations since May 31, when it announced that it might cut its ratings for Japan and major Japanese banks.
Today the credit company confirms Toyota Motor Credit Corporation ratings at Aa3, outlook is stable