Moody's cut its rating on Nissan Motor Co.

by one notch on Friday, citing weak U.S. sales and casting a shadow on the Japanese automaker's move to improve its business following a decline in its annual profit.

Nissan -- hit by former Chairman Carlos Ghosn's arrest last year and troubles at its North American business -- reported a 45 percent plunge in annual operating profit in the year ending March, and forecast a 28 percent drop in profit this fiscal year.

Moody's cut its rating of Nissan's credit to "A3" from "A2," adding that the outlook was negative.

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Nissan Suffers A Credit Cut For Poor US Performance

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