DBRS Assigns AA Rating to New Toyota Credit Canada Issue

DBRS has assigned a rating of AA, with a Negative trend, to the $300 million five-year medium-term notes (the Notes) issued by Toyota Credit Canada Inc. (TCCI).

The Notes have a fixed rate of 3.55% and mature on February 22, 2016.

The Notes are direct, unsecured and unsubordinated obligations of TCCI and rank pari passu with all other current and future unsecured and unsubordinated indebtedness of TCCI. The Notes are subject to a Credit Support Agreement from Toyota Financial Services Corporation, which in turn has a Credit Support Agreement from its parent, Toyota Motor Corporation.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Companies in the Automotive Industry, which can be found on our website under Methodologies.