Dec 24 (Reuters) - Nissan Motor Co Ltd 7201.T:
MOODY'S RATINGS ON HONDA-NISSAN MERGER: BUSINESS INTEGRATION IS OVERALL CREDIT POSITIVE IF EXECUTED SUCCESSFULLY
MOODY'S RATINGS: EXECUTION RISK IS HIGH, ESPECIALLY FOR HONDA, WHICH HAS LOWER MARGINS IN ITS AUTOMOTIVE BUSINESS COMPARED TO ITS MOTORCYCLE BUSINESS
MOODY'S RATINGS: LARGER SCALE THROUGH INTEGRATION WILL RESULT IN STRONGER CREDIT QUALITY, PARTICULARLY FOR NISSAN, WHICH CURRENTLY HAS SIGNIFICANTLY WEAKER CREDIT METRICS THAN HONDA
MOODY'S RATINGS: HONDA'S JPY1.1 TRILLION SHARE BUYBACK IS CREDIT NEGATIVE AS IT WILL ERODE HONDA'S LIQUIDITY OR CREDIT METRICS DEPENDING ON AMOUNT OF CASH OR DEBT USED TO FUND BUYBACK
Source text: [ID:]
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((Satoshi.Sugiyama@thomsonreuters.com;))
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