Moody’s Japan has withdrawn Denso’s Aa3 long-term issuer rating with stable outlook and the P-1 short-term rating for Denso Corporation.
Citing “business reasons,” a Moody’s statement noted the move “does not reflect a change in the company’s creditworthiness.”
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Rating methodology used was based on Moody’s Global Automotive Supplier Industry information.
Denso preferred to remain tight-lipped concerning the change with a spokesman for the components company telling just-auto from Holland: “We don’t have a formal comment on that…re-rating changes…sometimes it goes up and sometimes it goes down.
“It is not something we comment to the outside world – even if it gets better.”
Moody’s in Tokyo was not immediately available for comment.
