Automakers on the brink
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The credit markets received a slap in the face in October after the decision by Standard & Poor’s to review the auto sector halted a three-month rally and spooked investors whose cups were overrunning with auto paper.
DaimerChrysler’s woes continued last month as its ratings slid out to BBB with a negative outlook from S&P, while Ford’s BBB rating was put on review for downgrade. General Motors escaped any negative action as its ratings were affirmed at BBB.
Auto analysts were critical of S&P’s
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