NAGOYA, April 16 (Kyodo) — Standard & Poor’s on Tuesday revised the outlook of its long-term corporate credit rating on Toyota Motor Corp. to stable from negative, citing recovery in sales and reduced risk from the adverse impact of a strong yen.

“The outlook revision reflects our view that Toyota Motor is likely to accelerate an improvement in profitability and maintain its exceptionally strong financial position in the next two to three years,” the U.S. rating firm said in a statement.

Toyota’s long-term corporate credit rating remained at the fourth-highest level of AA-minus.

Toyota’s sales were greatly affected by the global financial crisis, its massive recall problems and the aftermath of the March 2011 earthquake and tsunami disasters.

But S&P said that the automaker’s “competitive position remains strong” despite those challenges.

S&P in March 2011 lowered Toyota’s long-term rating by one notch from AA to AA-minus partly because of the end of a Japanese government subsidy program for eco-friendly car purchases.