February 26, 2020
Moody's said on Tuesday that it downgraded the Mexican car financing company NR Finance México to Baa1 from A3, following a similar action last week on Nissan Motor Co. and Nissan Motor Acceptance Corporation (NMAC).
Despite the downgrade, Moody's kept the negative outlook on NR Finance's ratings, it said in a report.
"NR Finance México's ratings benefit from an explicit guarantee from NMAC, which in turn, benefits from support from its ultimate parent, Nissan," Moody's said, adding that the bac
Rating agency cuts the Mexican car financing company to Baa1 after downgrading Nissan last week