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DOWNGRADES - USA - Standard & Poors downgrades GM and Ford to ‘junk’
USA -Auto Industry/UK -06/05/05: -- Standard & Poor's Ratings Services yesterday lowered its long- and short-term corporate credit ratings on General Motors Corp. (GM), General Motors Acceptance Corp. (GMAC), and all related entities to 'BB/B-1' from 'BBB-/A-3', with a negative rating outlook... The corporate credit ratings firm lowered its long- and short-term corporate credit ratings on Ford Motor Co., Ford Motor Credit Co., and all related entities - except those of Hertz Corp. - to 'BB+/B-1' from 'BBB-/A-3'. The S&P rating outlook for Ford is also negative...
posted by Unknown @ 12:16 PM
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