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Nissan Motor Co., Ltd. -- Moody's downgrades Nissan to A3; outlook negative

This rating action concludes Moody's review for downgrade initiated on 19 February 2019. "The downgrade reflects the continuing slide in Nissan's profitability, driven by weak sales in the US, its largest market," says Motoki Yanase, a Moody's Vice President and Senior Credit Officer. Nissan's margins have deteriorated over the past two years, because of the contraction in its operating profit for North America, due to high sales incentives offered in the US.