S&P downgrades GM

news

nov04-news9-gif

In October rating agency Standard & Poor’s downgraded General Motors one notch to BBB- stable, an equivalent rating to Ford, and the brink of junk status. Bonds for both US automakers took a hammering, particularly the shorter-dated paper where spreads widened by about 60bp on the week.

Moody’s provided another blow when the agency put GM’s Baa1 rating on review for downgrade, although it did state this would be limited to one notch. Combined with disappointing results and the Securities & Ex

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: