Nissan CDS Rises to Highest in Japan, Topping Rakuten, SoftBank

Nissan Motor Co.’s credit-default swaps widened to the most among Japanese companies, overtaking both Rakuten Group Inc. and SoftBank Group Corp. after its consolidation talks with Honda Motor Co. were terminated.

Nissan’s five-year CDS is about 216 basis points, SoftBank is around 210 basis points and Rakuten is about 201 basis points, according to CMA data compiled by Bloomberg on Feb. 17.

Nissan’s topped the Japan CDS rankings at a time when Rakuten’s spreads tightened on the back of improved earnings from its mobile operations and SoftBank’s project finance plan helped ease pressure on its credit metrics. Nissan’s ...