DBRS Assigns AA (low) Rating to New Toyota Credit Canada Inc. Issue

DBRS has today assigned a rating of AA (low) with a Stable trend to the $500 million five-year medium-term notes (the Notes) to be issued by Toyota Credit Canada Inc. (TCCI) on July 18, 2013.

The Notes will have a fixed rate of 2.75% and mature on July 18, 2018.

The Notes will be direct, unsecured and unsubordinated obligations of TCCI and will rank pari passu with all other current and future unsecured and unsubordinated indebtedness of TCCI. The Notes will be 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.