Standard & Poor’s last month slashed to junk the corporate credit ratings on General Motors, General Motors Acceptance Corp (GMAC), Ford Motor and Ford Motor Credit Co. Citing ineffective management strategies, S&P cut GM and its financing arm, GMAC, to BB from BBB and cut Ford and its financing arm, FMCC, to BB+ from BBB-. The rating outlook on all entities is negative.
Pushing the world’s two largest corporate borrowers out of the investment-grade sector has raised their future funding cost
The week on Risk.net, July 7-13, 2018Receive this by email