DBRS Assigns A (high) Rating to Honda Canada Finance New Issues

DBRS has today assigned a rating of A (high) with a Stable trend to the Senior Unsecured Series 2013-2 and Series 2013-3 Debentures (collectively, the Notes) issued by Honda Canada Finance Inc. (HCFI). The Notes have an aggregate principal amount of $550 million. The Series 2 Debentures ($300 million) mature on December 3, 2015, and feature an interest rate equivalent to the three-month BA rate plus a spread of 0.42%. The Series 3 Debentures ($250 million) mature on December 3, 2018, and feature an interest rate equivalent to the three-month BA rate plus a spread of 0.65%.

The Notes rank pari passu with all other senior unsecured obligations of HCFI.

Note:
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.