Nissan’s debt rating has been reduced to junk status as the automaker faces an assortment of challenges. A Japanese group is reportedly trying to get Tesla to invest, but Elon Musk seemingly downplayed the idea.

Moody's Ratings said on Friday it has downgraded its rating of Nissan Motor's credit by one notch to junk status, citing a weak and worsening outlook for the Japanese automaker's credit profile.

Moody’s said the rating action reflects the Japanese automaker’s weak profitability driven by slowing demand for its aging model portfolio.

Nissan Motor Co.’s credit rating was cut to speculative grade by Moody’s Ratings on Friday, the latest blow to the troubled Japanese carmarker that recently abandoned talks on a tie-up with Honda Motor Co.

Moody's Ratings has downgraded Nissan's (OTCPK:NSANY) credit rating to junk, citing the Japanese automaker's weak profitability, cash flow challenges and worsening outlook. The rating agency pointed to the risks associated with Nissan's (OTCPK:NSANY) restructuring plan,