Fitch Ratings Indonesia has given an AAA(idn) rating to Toyota Astra Financial Services' fifth tranche of bonds under its fourth bond program, according to a Wednesday release.
The bonds' rating is similar to the issuer's national long-term rating, as they serve as the latter's obligations and rank equally with all its other unsecured obligations.
The financing company's rating reflects Fitch's view of extraordinary support from parent Toyota Motor (TYO:7203).
A downgrade in the issuer's rating will lead to similar movements in the bond program and its issue ratings.
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