 "Nissan Motor Co")
Nissan Motor Co.’s credit rating was cut by a notch to junk status of BB+ at S&P Global Ratings, citing weaker profitability and that a strong recovery in the Japanese carmaker’s sales was “unlikelly,” the agency said in statement.
It will take longer than expected for Nissan’s automobile division to recover from wavering sales and production, S&P said in a statement Tuesday.
While Nissan has recovered form two years of losses and is sticking to its forecast to post operating profit of ¥360 billion ($2.7 billion) for the fiscal year ending this month, the manufacturer has had a dearth of
