Nissan Downgraded on Weak Profit Outlook After Ghosn Arrest
- S&P cuts rating on Nissan’s debt for first time in a decade
- Restoring profitability difficult in next 1-2 years, S&P says
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Nissan Motor Co. took another hit as the automaker’s debt rating was cut on concerns the next two years will be marked by slowing sales and a preoccupation with cleaning up after the scandal involving Carlos Ghosn.
The company’s rating was lowered for the first time in a decade by S&P Global Ratings to A- from A. The outlook on the long-term debt score is stable, the rating firm said. The company’s A2 grade at Moody’s Investors Service also was placed on review for a downgrade.