This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Nissan Looking to Replace CEO; Downgraded to BB+ by Fitch
February 27, 2025
Nissan Motor Co. is considering replacing its CEO, Makoto Uchida, following poor earnings and the collapse of its merger talks with Honda. Uchida, who has led Nissan since 2019, expressed willingness to step down but wants to stabilize the company first. Nissan faces a significant JPY 80bn ($536mn) net loss for the fiscal year and a looming debt crisis. Attempts to combine with Honda fell through after disagreements over terms. Despite setbacks, Uchida emphasized the importance of strategic partnerships for Nissan’s future. Meanwhile, major shareholder Renault is distancing itself from Nissan, and companies like Foxconn and KKR are exploring investment opportunities. Additionally, Nissan’s rating was downgraded by a notch to BB+ from BBB- by Fitch. The downgrade is due to Nissan’s ongoing low profitability and slower-than-expected recovery. Fitch predicts auto EBIT and free cash flows to stay negative until the fiscal year ending March 2026. The negative outlook by Fitch reflects concerns about the success of Nissan’s restructuring plan. Nissan is now rated HY at all three rating agencies with Moody’s downgrading Nissan to HY last week.
Nissan’s bonds traded slightly positive with its 5.55% 2029s bond up at 98.8 cents on the dollar, yielding 5.85%.
For more details, click here
Go back to Latest bond Market News
Related Posts:Nissan Said to be Open to New Partnerships Including Foxconn
February 7, 2025
Nissan Seeking Tesla’s Investment; Downgraded to Ba1
February 24, 2025
Nissan’s Dollar Bonds Rise on Talks of Potential Merger with Honda
December 18, 2024
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.