Well, not as bad as it sounds.

Fitch lowers Toyota's credit rating due to the market slump. Like all the other automakers, Toyota is feeling the punch of the depressed market. There are many factors driving the drop in its rating, citing one,
"...The simultaneous slowdown in the major auto markets and the appreciation of the yen, which erodes the overseas earnings of Japanese exporters, were among the "multiple negative developments"
Other factors such as increase in price of materials and a decrease in the ability to obtain commercial financing are two more.
There is a plus side, though. "...Japanese automakers are faring better in riding out damage from the global slowdown and the recent jump in gas prices because of their reputation for fuel-efficient models."

The entire article can be viewed here:
Fitch lowers rating on Toyota due to market slump - NewsFlash - mlive.com

I'm glad to see Toyota is doing well in spite of the economic mess.