TOKYO (Reuters) – Fitch Ratings said on Wednesday it has downgraded Nissan Motor’s rating to junk-status BB+ from BBB-, referring to the Japanese automaker’s “persistently low profitability, with a delayed recovery trajectory against our expectations”. Fitch also maintained a negative outlook for Nissan credit. The move came after Moody’s Ratings last week also cut its […]
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Fitch cuts Nissan rating to junk status, following Moody’s downgrade
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TOKYO (Reuters) – Fitch Ratings said on Wednesday it has downgraded Nissan Motor’s rating to junk-status BB+ from BBB-, referring to the Japanese automaker’s “persistently low profitability, with a delayed recovery trajectory against our expectations”.
Fitch also maintained a negative outlook for Nissan credit.
The move came after Moody’s Ratings last week also cut its rating of Nissan by one notch to non-investment grade Ba1. S&P Global Ratings last month revised the carmaker’s credit outlook to negative and affirmed its BB+ rating.
(Reporting by Kantaro Komiya; Editing by Andrew Heavens)