Another blow to Nissan from Fitch! Credit rating downgraded

Following Moody's downgrade last week, Fitch Ratings has now downgraded Nissan Motor's rating.

According to the statement made by Fitch, the Company's long-term foreign and local currency bond default ratings (IDR) and senior unsecured rating were downgraded to "BB" from "BBB-".

The downgrade reflects Nissan's persistently low profitability coupled with a delayed recovery trajectory against Fitch's expectations.

The credit rating outlook will remain as "negative".

Last week, Moody's downgraded Nissan Motor's rating from "Baa3" to "Ba1" due to the deterioration in its credit profile, maintaining a "negative" outlook.