S&P may cut GM and Ford credit ratings again
Standard & Poor's may cut its corporate credit ratings for GM and Ford again, based on growing concerns about
the companies' ability to turn around their North American operations. S&P already lowered GM and Ford debt into
"junk bond" territory earlier this year.
Automotive News reports that S&P has a
broad range of concerns, including the two companies' deteriorating product mix, sales volumes and pricing pressures.
In the case of GM, S&P is also concerned about its entanglement with key supplier Delphi, which is teetering on the
edge of bankruptcy. More here.
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