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Nissan (Baa3/BB+): Cross Asset

CONSUMER CYCLICALS

• Nissan equity dropped ~4% overnight following the release of their medium-term plan. • Nissan has catching up to do on its model lineup, with 30 new models planned over 3 years. This could introduce execution and cost risks. That said, if operating profit targets are achieved it will be credit positive.

• NSANY € bonds have been unchanged yesterday and today.

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• Nissan equity dropped ~4% overnight following the release of their medium-term plan. • Nissan has catching up to do on its model lineup, with 30 new models planned over 3 years. This could introduce execution and cost risks. That said, if operating profit targets are achieved it will be credit positive.

• NSANY € bonds have been unchanged yesterday and today.

Keep reading...Show less