S&P puts Nissan Motor on watch

S&P said it placed its BBB+ long-term issuer and senior unsecured issue credit ratings and A-2 short-term issuer credit rating on Nissan Motor Co. Ltd. on CreditWatch with negative implications.

At the same time, S&P placed the ratings on the company's overseas subsidiaries on CreditWatch with negative implications.

“The CreditWatch placement reflects our view that there is a risk of a material deterioration in the company's profitability over the next one to two years,” S&P said in a news release.

“We expect downward pressure on the company's EBITDA margin to intensify. The Covid-19 pandemic may push down auto sales, lead to prolonged disruption of global production activities, and cause material currency fluctuations.”

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