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Auto on Info  August 2003

Moody's Upgrades Toyota's Long Term Debt to AAA

Per the Wall Street Journal, Moody's Investors Service awarded Toyota Motor Corporation its highest long term debt rating - a triple A. In June Moody's cut General Motors Corporation's long term debt rating to three notches above junk. Ford Motor Company's long term debt rating is the same as GM's.

The long term debt rating of a company reflects the credit worthiness of the company as assessed by the credit-rating agency. There are two influential credit-rating agencies in the U.S. - Moody's and Standard & Poor's.

Source: Page B4 of the August 4, 2003, issue of the Wall Street Journal

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