Junk status ‘imminent' for GM after new losses

General Motors

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General Motors faces an uphill struggle to restore confidence in the capital markets after last month’s profit warning showed a $4 billion swing in the forecast for operating cashflow at the automotive operations, from $2 billion positive to a $2 billion loss.

GM’s largest quarterly loss since 1992 prompted Standard & Poor’s to change the BBB- outlook to negative from stable, viewing the rating as “tenuous”. Fitch cut the automaker’s rating from BBB to BBB- with negative outlook. Analysts no

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