Date of Release: 2003-09-26
Kam Hon; David Schroeder/416-593-5577 ext.2243, ext.2232/khon@dbrs.com
DBRS is assigning a rating of A (high), with a Stable trend, to the $300 million Senior Unsecured Series 2003-1 Debentures (the “Debentures”) issued by Honda Canada Finance Inc. (“HCFI”). The rating is based on the ultimate parent Honda Motor Company, Limited (“Honda”) of Japan. The Debentures are guaranteed by HCFI’s majority owner, American Honda Finance Corporation (“AHFC”). AHFC is wholly owned by American Honda Motor Co., Inc., which, in turn, is wholly owned by Honda. Honda supports its subsidiaries through a support agreement. The Debentures are ranked pari passu with all senior unsecured indebtedness of the issuer.
ALL DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES AND METHODOLOGIES.
