Nissan Motor Co., Ltd.: Rating Report

On September 13, 2019, DBRS Limited (DBRS) downgraded the Issuer Rating and Senior Unsecured Debt rating of Nissan Motor Co., Ltd. (Nissan or the Company) as well as the Senior Unsecured Debt rating of its subsidiary, Nissan Canada Inc. (NCI), to A (low) from “A”. DBRS also confirmed the Commercial Paper rating of NCI at R-1 (low) (the rating remains consistent with the current mapping relationship between DBRS’s longterm debt and short-term debt rating scales). The trend on all ratings has been changed to Negative from Stable.