Nissan Suffers Blow With S&P Cutting Credit to Junk
- Profit, revenue recovery seen gradual rather than strong
- Carmaker has been slow to roll out fresh model lineup
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Nissan Motor Co.’s credit rating was slashed to junk by S&P Global Ratings, the latest setback for a carmaker that’s struggled to boost profitability in the years following former chairman Carlos Ghosn’s arrest and the industry’s pivot toward electrification.
The Japanese automaker’s credit rating was cut by a notch to BB+ by S&P, which said a strong recovery in profit and sales was “unlikely” and cited persistent supply chain turmoil and high costs in the industry.