The cost of junk status
general motors
Some financial shocks happen suddenly, taking the market by surprise and forcing investors into a state of panic. Other shocks happen slowly, unraveling before everyone’s eyes as the inevitable consequences take hold. General Motors’ slow spiral toward the junk market partakes of the latter category, with many analysts expecting the Detroit, Michigan-based automobile behemoth to be relegated to the speculative-grade market before the end of the year.
Even though the final outcome of GM’s current
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