Daimler AG: Rating Report

On November 28, 2019, DBRS Limited (DBRS Morningstar) confirmed Daimler AG’s (Daimler or the Company) Issuer Rating and Senior Debt rating at “A” as well as the Medium-Term Notes and Commercial Paper (CP) ratings on Daimler Canada Finance Inc. and the Senior Debt and CP ratings on Daimler Finance North America LLC at “A” and R-1 (low), respectively. DBRS Morningstar also changed the trend on the long-term ratings to Negative from Stable and maintained the trend on the short-term ratings at Stable as, pursuant to DBRS Morningstar’s debt rating scales, the R-1 (low) rating maps consistently with both the “A” and A (low) long-term ratings. The rating confirmation incorporates the Company’s solid business risk assessment as a global leader in both the premium automotive and truck segments. The trend change on the long-term ratings reflects Daimler’s recently weaker earnings that have adversely affected credit metrics.