Moody's Downgrades Toyota, Honda, Nissan over Coronavirus
Tokyo, March 27 (Jiji Press)--Moody's Japan K.K. has lowered its credit ratings on Toyota Motor Corp. <7203>, Honda Motor Co. <7267> and Nissan Motor Co. <7201>, citing negative impacts of the outbreak of the novel coronavirus on the automotive sector.
"The automotive sector has been one of the sectors most significantly affected by the shock" from the coronavirus pandemic, given its sensitivity to consumer demand and sentiment, the major credit rating agency said.
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