Nissan's credit rating drops to junk status in the wake of low profitability. It needs to improve sales and cash flow for an improved rating.
and the industry’s pivot toward electrification.
Nissan recovered from two years of losses and is still targeting an operating profit of ¥360 billion for the fiscal year ending this month. A weaker yen in late 2022 also helped boost income brought home, which made up for production snags, but that advantage is fading as the currency strengthens. Nissan’s profitability will continue to lag behind its competitors for the next one to two years, S&P added. The agency said it expects supply chain issues to persist, delaying any recovery in sales across the US and Europe, and pressure companies to lower prices.
The outlook for the Japanese carmaker is stable, S&P said, citing that profitability is gradually improving and that the company is being conservative in its financial planning.
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