UPDATE 1-Nissan seeks $4.6 bln credit line after coronavirus hit -sources [Reuters (UK)]
NISSAN MOTOR LTD S/ADR (NSANY)
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Source: Reuters
Nissan seeks $4.6 billion credit line after coronavirus hit: sources - Reuters 2 Min Read TOKYO (Reuters) - Nissan Motor ( 7201.T ) has requested a 500 billion yen ($4.6 billion) commitment line from major lenders after sales were battered by the coronavirus outbreak, two people with knowledge of the matter told Reuters on Thursday. Like other automakers, Nissan has been hard hit as the pandemic decimates demand and disrupts production, but the Japanese automaker is more vulnerable than others. Even before the outbreak, it was badly hit by a slump in profitability following decades of aggressive expansion and the scandal surrounding ousted leader Carlos Ghosn. Nissan is requesting the funding given the possibility that the impact of the coronavirus on production and demand could continue for an extended period, one of the people said. The sources declined to be identified as they were not authorised to speak to the media. A Nissan representative was not immediately available to comm
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