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TOKYO — Moody’s Investors Service on Thursday cut its credit rating on Toyota Motor Corp.’s by a notch, matching its lowest-ever level, saying the automaker’s multi-million vehicle recalls and safety issues raise questions about its profitability and ability to stay ahead of rivals on pricing power until 2012 at the earliest.
The agency said it lowered its rating on Japan’s biggest automaker by one notch to Aa2, its third-highest rating, from Aa1 at the end of a review started in February after Toyota recalled close to 9 million vehicles globally.
