Moody’s rates Nidec bonds A3

Moody's Investors Service said it assigned an A3 senior unsecured rating to Nidec Corp.'s (A3) €300 million senior unsecured bonds due 2021.

The outlook is stable.

Nidec's rating reflects its well-diversified product portfolio, technological strength in the electric motor business, substantial market presence as the world's leading supplier and stable cash flow generation capability, the agency said.

The rating is also supported by Nidec's solid financial profile, for example, as measured by the company's debt/EBITDA of 1.7x for the 12 months ended June 30, Moody’s added.

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