Toyota Financial Services Credit Rating Cut by Moody's

Toyota Motor Credit Corp. had its credit rating cut by Moody's Investor's Services to Aa2, the third highest grade, from Aa1 according to a statement from Moody's. In 2009, TMCC had a Moody's rating of Aaa. Toyota faces a "material risk" that its operating profit margins will remail well below what is appropriate for its rating "until 2012 at the earliest and possibly beyond," Tadashi Usui, a Moody's analyst, wrote. 

Toyota Motors faces a massive consolidate class action lawsuit over its sudden and unintended acceleration problems and recall which is pending in Federal District Court in California. Toyota Motor Credit Corp, which in conjunction with Toyota Motors, is referred to as Toyota Financial Services, has been recently added to that class action litigation.  

The Massachusetts couple that filed the class action lawsuit against Toyota Financial Services are being represented by Finkelstein Thompson and Phillips & Garcia, P.C.  In their lawsuit, they allege that they bought their 2008 Toyota Avalon from a Toyota dealer in April 2009 and financed it with Toyota Motor Credit Corp. They later experienced incidents of sudden acceleration and underwent Toyota's attempted "fix" of the problem.

Because Toyota Motor Credit Corp. provides financing options for Toyota customers, the couple allege that Toyota encourages customers to finance with Toyota Financial Services. They also assert in their class action complaint that because the value of their Avalon was artificially high (due to the undisclosed defective condition that led to the sudden acceleration problems), then the amount of their financing was also artificially inflated.

If you financed your Toyota car with Toyota Financial and are subject to the Toyota recall, the class action attorneys at Phillips & Garcia, P.C. want to hear your story. We are committed to protecting your best interests and helping you collect the damages that you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule a FREE legal consultation or call us toll free at               (877) 892-5620         (877) 892-5620.