S&P to downgrade Ford and GM further into junk status
What's worse than being junk? Does S&P have a "sewage" rating? Or maybe a "National Enquirer" rating? Standard & Poor's is "nervous" about GM and Ford at their current below-investment grade status of BB+ and is warning that they'll demote the two car companies even further due to poor market conditions, product mix and high energy prices. After the shockwaves that hit the industry in May when the two companies were lowered to BB+, a further drop in status is sure to further complicate the two automakers' woes.
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