Moody’s on Thursday upgraded its rating on Nissan Motor, citing its profitability and global market position after the automaker bucked a trend of falling profits among Japanese car giants. The global ratings agency said it upped its credit rating on the firm, part-owned by France’s Renault, by one notch to A3 with a stable outlook, its seventh-best ranking on scale of 19. “The upgrade reflects Moody’s expectation that Nissan’s new product cadence, its continuing focus on cost controls, and its commitment to building global brand value will enable (Nissan) to sustain the strong performance,” in its latest fiscal year, Moody’s said in statement.
