Japan Credit Rating Agency cuts Takata to A-, outlook negative

Fri Dec 5, 2014 3:58am EST
 
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TOKYO (Reuters) - The Japan Credit Rating Agency cut its credit rating on Takata Corp (7312.T: Quote) by one notch to A- on Friday, saying the company was likely to face increased costs over an expanded airbag recall in the United States.

The rating agency put Takata on outlook negative after its biggest customer, Honda Motor Co (7267.T: Quote) indicated it would comply with the U.S. auto regulator's orders to expand regional airbag recalls nationwide.

(Reporting by Mari Saito; Editing by Miral Fahmy)

 
A logo of Takata Corp is seen through a car window outside the company's headquarter building in Tokyo April 12, 2013. REUTERS/Yuya Shino