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Canadian National Scale CP Ratings on DaimlerChrysler AG's Canadian Subs Raised Jul 02
Standard & Poors, July 2002
Abstract
TORONTO (Standard & Poor's) July 19, 2002--Standard & Poor's today raised its Canadian national scale commercial paper ratings to 'A-1(Low)' from 'A-2(Cdn)' on DaimlerChrysler AG's Canadian subsidiaries, DaimlerChrysler Canada Finance Inc. and Chrysler Credit Canada Ltd., following the outlook revision to stable from negative on automaker DaimlerChrysler AG (BBB+/Stable/A-2) due to the significant improvement in the company's financial performance. Standard & Poor's is more confident in the adequacy of restructuring efforts under way now that the financial performance at DaimlerChrysler's core Chrysler and Freightliner units has significantly improved, and believes that the potential for a further downgrade of DaimlerChrysler is limited. Standard & Poor's said all of the other short- and long-term ratings on DaimlerChrysler's Canadian subsidiaries remain unchanged. A...
Companies mentioned in this report are: Daimler Canada Finance Inc.,Daimler AG
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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