Moody's upgrade confirms improved car loan ops-MMC

Newswire

TOKYO, Feb 26 (Reuters) - Japanese car maker Mitsubishi Motors said on Thursday the upgrade by Moody's Investors Service of its bonds backed by U.S. car loans showed improvements in its North American loan operations were being recognised. Late on Tuesday, Moody's raised its ratings on three subordinated classes of car loan asset-backed bonds issued by Mitsubishi Motors Credit America (MMCA). The bonds had been a source of huge losses for Mitsubishi, which had run into trouble over the ...

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