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

05/12/2014 - 9:58

TOKYO (Reuters) - The Japan Credit Rating Agency cut its credit rating on Takata Corp 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> 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)