Toyota, Canon Ratings May Beat Japan After Downgrade
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Toyota Motor Corp. and Canon Inc. are among 13 Japanese companies that will have higher ratings than their home country at Standard & Poor’s after the nation was downgraded.
Japan’s credit rating was cut for the first time in nine years as the world’s most indebted nation staggers under 943 trillion yen ($11 trillion) of borrowings, with the grade lowered one step to AA-. Toyota, the world’s biggest carmaker, and Canon, the largest camera maker, along with companies including mobile phone operator NTT Docomo Inc. and Nippon Telegraph & Telephone Corp., are rated a grade higher.