TOKYO (Reuters) – Moody’s Ratings said on Friday it has downgraded its rating of Nissan Motor credit by one notch to junk status, citing a weak and worsening outlook for the Japanese automaker’s credit profile. The credit-rating firm cut Nissan’s senior unsecured rating to Ba1 from Baa3 and maintained its negative outlook. In a report, […]
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Moody’s cuts Nissan rating to junk status, keeps negative outlook
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TOKYO (Reuters) – Moody’s Ratings said on Friday it has downgraded its rating of Nissan Motor credit by one notch to junk status, citing a weak and worsening outlook for the Japanese automaker’s credit profile.
The credit-rating firm cut Nissan’s senior unsecured rating to Ba1 from Baa3 and maintained its negative outlook.
In a report, senior analyst Dean Enjo cited “risks associated with the implementation of its new restructuring plan, the renewal of its aging product range and global trade policies”.
Last month, S&P Global Ratings revised the automaker’s credit outlook to negative and stable and affirmed its BB+ rating.
Last week, Nissan ended talks with Honda Motor for a possible merger, pitching it deeper into uncertainty.
(Reporting by Chang-Ran Kim; Editing by Christopher Cushing)