S&P junks automakers

news

pg08-fordandgm-gif

Standard & Poor’s (S&P) cut the corporate credit ratings on General Motors Corp., General Motors Acceptance Corp., Ford Motor Co. and Ford Motor Credit Co. out of the investment-grade sector in May, raising the future funding costs for the automakers, limiting their funding options and initiating yet another weakening in their spreads in the secondary market. A week later, Moody’s cut Ford Motor Company’s ratings by two notches to Baa3, the lowest investment-grade rating.

Citing ineffective

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: