In the latest blow to Toyota (TM), S&P lowers its bond rating of the world's largest...

|About: Toyota Motor Corporation (TM)|By:, SA News Editor

In the latest blow to Toyota (TM), S&P lowers its bond rating of the world's largest automaker to AA- from AA, citing "weak profitability." "The downgrade reflects our opinion that Toyota's profitability is unlikely to recover in the next one to two years to a level that we view as appropriate for the rating," S&P says.