DBRS Assigns A (high) Rating to Honda Canada Finance Inc. New Issue

DBRS has today assigned a rating of A (high) with a Stable trend to the Senior Unsecured Series 2014-1 Debentures (the Notes) to be issued by Honda Canada Finance Inc. (HCFI). The Notes will have an aggregate principal amount of $400 million and feature an interest rate equivalent to the three-month BA rate plus a spread of 0.33%. The maturity date of the Notes is April 7, 2017.

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

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

The applicable methodologies are Rating Companies in the Automotive Manufacturing Industry, DBRS Criteria: Financial Ratios and Accounting Treatments – Non Financial Companies, DBRS Criteria: Guarantees and Other Forms of Explicit Support and Rating Captive Finance Companies, which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.