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S&P Considering GM, Ford Downgrades
DETROIT,Mich,USA -North County Times/Cal, by DEE-ANN DURBIN -October 4, 2005: -- Standard & Poor's Ratings Services is reviewing the credit ratings of the nation's two biggest automakers, General Motors Corp. and Ford Motor Co., and could downgrade them further into "junk" status as early as mid-January... S&P placed Ford and GM's ratings below investment grade earlier this year, a change that makes it more difficult for them to borrow money. GM's debt totaled $284 billion as of June 30, while Ford's debt stood at $158 billion, S&P said... Analyst Scott Sprinzen said S&P probably won't downgrade Ford more than one notch, but it could take more drastic action with GM, the biggest automaker...
posted by Unknown @ 1:53 PM
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