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Nissan Motor Co.’s credit standing took another hit Monday as S&P Global Ratings placed the automaker’s rating on negative watch after it issued a weaker profit outlook last week.

There is a more than 1-in-3 chance of a further delay in Nissan’s profit recovery, according to the rating agency, which in February lowered the carmaker’s long-term issuer credit rating for the first time in a decade to A- from A.

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