On December 19, Glonghui reported that S&P pointed out that the merger between Honda and Nissan will not quickly bring benefits, primarily because Auto Manufacturers first need to adjust their strategy, and overlapping regional markets will limit sales revenue. The report stated that although the potential Trade could form an automotive company valued at 54 billion dollars, making it the third largest Global automotive company, any Bullish impact on its credit outlook will be delayed. The firm added that the merger could have a negative impact on Honda's independent credit outlook, while it should have a positive effect on Nissan.